Kathy is 60 years of age and self-employed. During 2018, she reported $518,000 of revenues and $103,600 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 an individual 401(k) for 2018?

Multiple Choice

• $55,000.

• $61,000.

• $80,178.

• $98,678.