Kathy is 60 years of age and self-employed. During 2021, she reported $522,000 of revenues and $104,400 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 an individual 401(k) for 2021? Assume she pays $31,096 in self-employment for 2021. (Round your final answer to the nearest whole number.)

Multiple Choice

• $58,000

• $64,500

• $97,310

• $89,662