On December 30, you decide to make a $1,400 charitable donation. a. If you are in the 20.5 percent federal tax bracket, how much will you save in taxes for 2016? Assume that amounts in excess of $200 do not exceed 75 percent of Net income. (Omit the "$" sign in your response.) Tax savings for the current year $ b. If you deposit that tax savings in a savings account for the next six years at 9 percent, what is the future value of that account? Use Exhibit 1-A. (Round time value factor to 3 decimal places and final answer to 2 decimal places. Omit the "$" sign in your response.) Future value of tax savings $