Den owns a commercial business and has three eligible employees: Matin, Judi, and Susan. Den sets a SEP IRA retirement plan for his eligible employees and himself. The plan states that he will contribute 15% of the compensation. This is the only retirement plan for his employees and himself. Matin earned $145,000, Judi earned $35,000, Susan earned $310,000, and Den earned a salary of $320,000 in 2022. What amount of the SEP IRA contribution is deductible for Den for the current tax year?

a) $121,500 b) $244,000 c) $118,500 d)$ 0