Rita is a self-employed taxpayer who turns 39 years old at the end of the year (2019). In 2019, her net Schedule C income was $286,000. This was her only source of income. This year, Rita is considering setting up a retirement plan. What is the maximum amount Rita may contribute to the self-employed plan in each of the following situations?

a) She sets up a SEP IRA. b) She sets up an individual 401(k).