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Question

Jared, age $52,$ earns $$360,000$ per year and is a participant in his employer$$s $401($k$)$ plan. What is the maximum total contribution amount that Jared will have under the $401($k$)$ plan in $2024,$ assuming his company contributes using a non$-$elective deferral in a Safe Harbor Plan?

A$.$$$30,500$

B$.$$$40,850$

C$.$$$41,300$

D$.$$$69,000$