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Kathy is 60 years of age and self-employed. During 2019 she reported $118,000 of revenues and $43,600 of expenses relating to her self-employment activities. If

Kathy is 60 years of age and self-employed. During 2019 she reported $118,000 of revenues and $43,600 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 simplified employee pension (SEP) IRA for 2019? (Round your final answer to the nearest whole number.)

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  • $13,829.

  • $17,170.

  • $71,800.

  • $55,800.

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