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A 55 year old employee, earning $50,000 per year is enrolled in only one 401K plan (a traditional 401K). What is the maximum tax deductible

A 55 year old employee, earning $50,000 per year is enrolled in only one 401K plan (a traditional 401K). What is the maximum tax deductible contribution she can make to her 401K in 2020?

$19,500

$63,500

$26,000

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