On February 20,2021, Michael prepared his2020calendar-year tax return, showing $70,000 net profit from his first year in business (amount carried from Schedule C to line 12 of Form 1040). He wants to establish a money purchase qualified plan and contribute the maximum amount. He has no employees. The most Michael can contribute to his qualified plan for2020is

• A.
• $17,500
• B.
• $0
• C.
• $13,000
• D.
• $14,000