using Excel following scenario. John Smith's Scenario John is single and he works at the XYZ company as a webpage designer. His annual salary is $75,000 a year. His company offers a 401k retirement savings benefit and it matches up to 6% of the participating employee's salary. John wants to participate in the program because it gives many benefits including that additional 6% money toward his retirement savings. He wants to figure out what amount would maximize his tax benefit and the company's match. He needs at least $2,300 per month for his living expenses. Suppose that you are his CFA. How much annual 401K contribution would you suggest to him? Explain your rationale for that suggestion. Research 401K retirement savings plan. Then, consider the following scenario. John Smith's Scenario John is single and he works at the XYZ company as a webpage designer. His annual salary is $75,000 a year. His company offers a 401K retirement savings benefit and it matches up to 6% of the participating employee's salary. John wants to participate in the program because it gives many benefits including that additional 6% money toward his retirement savings. He wants to figure out what amount would maximize his tax benefit and the company's match. He needs at least $2,300 per month for his living expenses. Suppose that you are his CFA. How much annual 401K contribution would you suggest to him? Explain your rationale for that suggestion. using Excel following scenario. John Smith's Scenario John is single and he works at the XYZ company as a webpage designer. His annual salary is $75,000 a year. His company offers a 401k retirement savings benefit and it matches up to 6% of the participating employee's salary. John wants to participate in the program because it gives many benefits including that additional 6% money toward his retirement savings. He wants to figure out what amount would maximize his tax benefit and the company's match. He needs at least $2,300 per month for his living expenses. Suppose that you are his CFA. How much annual 401K contribution would you suggest to him? Explain your rationale for that suggestion. Research 401K retirement savings plan. Then, consider the following scenario. John Smith's Scenario John is single and he works at the XYZ company as a webpage designer. His annual salary is $75,000 a year. His company offers a 401K retirement savings benefit and it matches up to 6% of the participating employee's salary. John wants to participate in the program because it gives many benefits including that additional 6% money toward his retirement savings. He wants to figure out what amount would maximize his tax benefit and the company's match. He needs at least $2,300 per month for his living expenses. Suppose that you are his CFA. How much annual 401K contribution would you suggest to him? Explain your rationale for that suggestion