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! Required information [The following information applies to the questions displayed below.] Elvira is a self-employed taxpayer who turns 42 years old at the

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! Required information [The following information applies to the questions displayed below.] Elvira is a self-employed taxpayer who turns 42 years old at the end of the year (2023). In 2023, her net Schedule C income was $130,000. This was her only source of income. This year, Elvira is considering setting up a retirement plan. What is the maximum amount Elvira may contribute to the self-employed plan in each of the following situations? Note: Round your intermediate calculations and final answers to the nearest whole dollar amount. a. She sets up a SEP IRA. Maximum contribution $ 43,663

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