Kathy Is 48 Years of Age and Self-Employed

Multiple Choice

Kathy is 48 years of age and self-employed. During 2020 she reported $138,000 of revenues and $55,200 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 a SEP IRA for 2020? (Round your final answer to the nearest whole number.)

A) $15,390.
B) $17,171.
C) $71,900.
D) $57,000.