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What is the maximum amount can contribute for kathy

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Problem 1: Kathy is 48 years of age and self-employed. During 2018 she reported $540,000 of revenues and $108,000 of expenses relating to her self-employment activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to an individual 401(k)?

a. $55,000
b. $61,000
c. $102,151
d. $108,147

Reference no: EM132686141

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