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During 2015, Jerry is a self-employed therapist, and his net earned income is $160,000 from his practice. Jerry's SEP Plan, a defined contribution plan, states

During 2015, Jerry is a self-employed therapist, and his net earned income is $160,000 from his practice. Jerry's SEP Plan, a defined contribution plan, states that he will contribute the maximum amount allowable. Calculate Jerry's contribution

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