Kathy Is 60 Years of Age and Self-Employed

Multiple Choice

Kathy is 60 years of age and self-employed.During 2019,she reported $500,000 of revenues and $100,000 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) for 2019? Assume she pays $27,192 in self-employment for 2019.(Round your final answer to the nearest whole number.)

A) $56,000.
B) $62,000.
C) $96,281.
D) $77,281.