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Phaedra, a 50-year-old taxpayer, earned $54,000 in wages. What is the maximum deductible amount of contribution she can make to a 401(k) plan for 2022?

Phaedra, a 50-year-old taxpayer, earned $54,000 in wages. What is the maximum deductible amount of contribution she can make to a 401(k) plan for 2022? $20,500 $27,000 $54,000 $61,000

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