?Small Business and Self$-$Employed Retirement Plans $($LO $5\mathrm{.}4)$

During $2023,$ ?Pencho is a self$-$employed therapist, and his net earned income is $$160,000$ ?from his practice. Pencho's SEP$-$IRA Plan, a defined contribution plan, states that he will contribute the maximum amount allowable.

Calculate Pencho's contribution.