Kathy is 48 years of age and self-employed. During 2021 she reported $108,000 of revenues and $43,200 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 2021? (Round your final answer to the nearest whole number.)

Multiple Choice

• $12,044

• $17,156

• $69,660

• $58,000

Kathy is 60 years of age and self-employed. During 2021 she reported $528,000 of revenues and $114,000 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 2021? Assume she pays $31,126 in self-employment tax for 2021. (Round your final answer to the nearest whole number.)

Multiple Choice

• $58,000

• $73,530

• $106,933

• $98,214