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Please help me understand this question Kathy is 60 years of age and self-employed. During 2019 she reported $106,000 of revenues and $41,200 of expenses

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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.

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