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[The following information applies to the questions displayed below.) Reggle is a self-employed taxpayer who turns 59 years old at the end of the year

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[The following information applies to the questions displayed below.) Reggle is a self-employed taxpayer who turns 59 years old at the end of the year (2020). In 2020, his net Schedule C income was $344.000. This was his only source of income. This year, Reggle is considering setting up a retirement plan. What is the maximum amount he may contribute to the self-employed plan in each of the following situations? (Round your intermediate calculations to the nearest whole dollar amount.) o. He sets up a SEPIRA Maximum contribution b. He sets up an individual 401(k). Maximum contribution

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