Which of these statements are CORRECT with regard to defined contribution plans?

The employer's plan establishes and maintains an individual account for each plan participant.

The annual contribution to a $401($k$)$ in $2023$ is limited to $$22,500$ and $$7\mathrm{.}500$ more if your age is over $50.$

Older employees will always receive greater benefits.

The retirement benefit is not predetermined.

$1,2,$ and $4$

$3$ and $4$

$1,2,$ and $3$

$1$ and $2$

In the current year, Frank paid the following expenses incurred by his dependent son, Mitch:

Principal payments on an automobile loan

$$15,000$

Interest on the automobile loan

$$1,500$

Payment for Mitch's medical expenses

$$8,000$

Which of the following expenses are deductible by Frank $($ignoring any hurdles or thresholds$)$ in calculating his itemized deductions?

$$9,500$

$$24,500$

$$8,000$

$$1,500$