Gor he year 2016, Katy (age 35) and Stefen (age 39),a married co rotd the folowing items of income: Katy StefenTotal $50,000 Wages Dividend income Cash won from lottery $50,000 $3,200 $500 $52,000 $1,700 $53,700 $2,000 $1,200 $500 Katy is covered by a qualified plan. Stefen does not work, he makes wine and drinks all day Asuming a joint return was filed for 2016, what is the maximum tax deductible amount that they can contribute to their IRAs? a. $2,500. b $5,500. c. $7,500 d.) $11,000