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Trinity, a 51-year-old taxpayer, earned $54,000 in wages. What is the maximum deductible amount of contribution she can make to a 401(k) plan for 2023?

Trinity, a 51-year-old taxpayer, earned $54,000 in wages. What is the maximum deductible amount of contribution she can make to a 401(k) plan for 2023? Show your calculations.

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