Ray owns two cars (a Ford Mustang and a Ford Focus), a house, and a rental apartment. He has auto insurance for both cars, a homeowner’s policy, and a policy for the rental property. The costs of the policies are:

Mustang: $1648 per year

Focus: $1530 per year

Homeowner’s: $640 per year

Rental property: $750 per year

Ray is considering taking out a $1 million personal umbrella liability policy. The annual cost of the umbrella policy would be $450. If he has the umbrella policy, he can lower the limits on parts of his auto policies and still have equal or better protection. If Ray purchases the umbrella policy, he can reduce his premium on the Mustang by $90 per year and his premium on the Focus by 12%. If he purchases the umbrella policy and reduces the amount he pays for auto insurance, what is the net amount he is actually paying for the umbrella policy?