Kathy is 60 years of age and self-employed. During 2019 she reported $107,000 of revenues and $41,400 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

• $12,193.

• $17,159.

• $61,700.

• $54,700.

Kathy is 48 years of age and self-employed. During 2019 she reported $106,000 of revenues and $42,400 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

• $11,821.

• $17,155.

• $61,300.

• $55,000.