Med Metrics is a medical analytics firm. Andrew Reid, founder and owner of the business is 62. Patrick Watkins, age 54, is a key employee. The business employs 12 other young, rank-and-file employees earning an average of $34,000 per year. Both Andrew and Patrick would like to contribute between $35,000 and $45,000 per year to a qualified retirement account. The advantages of using a cross-tested profit sharing plan at Med Metrics rather than a defined benefit plan include:

Group of answer choices

The cross-tested plan is simpler to install

The cross-tested plan is less expensive to administer

The cross-tested plan allows more flexibility in plan contributions

All of the above

Only a and b