Since each year has 12 months, divide the annual salary by 12 to find the monthly salary. Then, multiply it by 26/100 to find the amount of money that Michael may spend.
[tex]\frac{39,110}{12}\times\frac{26}{100}=847.38333\ldots[/tex]Therefore, the most that Michael ay spend on monthly rent, is approximately:
[tex]847.38[/tex]