Kathy is 48 years of age and self-employed. During 2018 she reported $534,000 of revenues and $106,800 of expenses relating to her self-employment activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to an individual 401(k)?

Multiple Choice

$107,200.

$61,000.

$55,000.

$101,204.