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Kathy is 60 years of age and self-employed. During 2019 she reported $120,000 of revenues and $44.000 of expenses relating to her self- employment activities.

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Kathy is 60 years of age and self-employed. During 2019 she reported $120,000 of revenues and $44.000 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 simplified employee pension (SEP) IRA for 2019? (Round your final answer to the nearest whole number.) Multiple Choice $72,000 556,000 $14126 $17.72

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