Kathy is 60 years of age and self-employed. During 2019 she reported $106,000 of revenues and $41,200 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

• $12,044.

• $17,158.

• $61,600.

• $54,600.