Kathy is 48 years of age and self-employed. During 2020 she reported $114,000 of revenues and $45,600 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 a SEP IRA for 2020? (Round your final answer to the nearest whole number.)

Multiple Choice

• $17,159.

• $12,714.

• $61,700.

• $57,000.