Kathy is 60 years of age and self-employed. During 2015 she reported $403,000 of revenues and $100,750 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 this year to a simplified employee pension (SEP) IRA?

$53,000

$59,300

$67,186

$290,801