In 2022, an employee is 55 years old and earned $68,500 in salary. He's always contributed the maximum allowable amount each year to his 401K plan. What is the maximum combined employee and employer tax deferred amount that may be contributed to his 401K plan in 2022?

A. $68,500

B. $27,000

C. $20,500

D. $67,500

please answer and explain