Kathy is 60 years of age and self-employed. During 2022 she reported $101,000 of revenues and $40,200 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 2022?

Note: Round your final answer to the nearest whole number.

Multiple Choice

$11,301


$17,801


$68,175


$61,000