Alexander is a 51-year-old self-employed political consultant with a Simplified Employee Pension (SEP) for his business. Alexander has no employees. In 2020 his net earned income, after deducting one-half of his self-employment tax, was $300,000. For 2020 the maximum contribution Alexander can make on his behalf to his SEP is:

Select one:

a. Some other amount

b. $16,000

c. $60,000

d. $57,000

e. $75,000