Dan owns and operates Schoepfs Sales Solutions (3S), a sole proprietorship. 3S sponsors a profit-sharing plan.

Dan had net income of $250,000 and paid self-employment taxes of $22,000 (assumed) during the year.

Assuming Dan is over the age of 50, what is the maximum amount that Dan can contribute to the profit sharing plan on his behalf for 2017?

a. $45,600.

b. $47,800.

c. $54,000.

d. $60,000.