Travis is a great football star and received a full scholarship when he was at Concordia. He graduated from Concordia in December 2020 and joined the Canadian Football League (CFL) on January 1, 2021. He never worked before this as he was always in football training camps over the summer. To date, he has never made a Registered Retirement Savings Plan (RRSP) contribution. He considers his salary low but knows that in time, he will prove himself on the field and bring in the big bucks. He was happy that on December 16,2023 , he received a large bonus and wished to maximize his RRSP contribution to use as a deduction on his 2023 personal income tax returns. There is no pension plan in the CFL. The formula for RRSP contribution is the lesser of ( 18 % ) of the previous year's earned income or the yearly maximum based on the RRSP table below. How much did Travis put in his RRSP? Hint: Ignore the ( $ 2,000 )-lifetime over-contribution grace amount and consider carry-forward amounts.

Iravis is a great football star and received a full scholarship when he was at Concordia. He graduated from Concordia in December 2020 and joined the Canadian Football League (CFL) on January 1, 2021. He never worked before this as he was always in football training camps over the summer. To date, he has never made a Registered Retirement Savings Plan (RRSP) contribution. He considers his salary low but knows that in time, he will prove himself on the field and bring in the big bucks. He was happy that on December 16,2023 , he received a large bonus and wished to maximize his RRSP contribution to use as a deduction on his 2023 personal income tax returns. There is no pension plan in the CFL. The formula for RRSP contribution is the lesser of 18% of the previous year's earned income or the yearly maximum based on the RRSP table below. How much did Travis put in his RRSP? Hint: Ignore the $2,000-lifetime over-contribution grace amount and consider carry-forward amounts