Mr$.$ Barlow, throughout $2022,$ had an average tax rate of $19\mathrm{.}12\%$ and currently has a marginal tax rate of $29\mathrm{.}65\%.$ He made a $$5500$ RRSP contribution in $2022.$ What will his estimated tax savings be from the RRSP contribution?

$1051\mathrm{.}60$

$1630\mathrm{.}75$

$3869\mathrm{.}25$

RRSPS provide tax sheltering but no tax deductions