John and Anne have the following expenses and account balances:

John’s annual 401(k) contribution	$22,000
John’s annual salary	$165,000
Current Liabilities	$36,000
Housing Costs (PITI) monthly	$3,450
Cash & Cash Equivalents	$60,000
Monthly non-discretionary cash flows	$7,500
Monthly debt payments other than housing	$1,000
* John’s employer matches $1 for $1 up to 5% of his salary in his 401(k) plan.

Based on the information above, calculate the Savings Rate.

a). 16.74 

b). 17.25 

c). 18.94 

d). 18.33rn