Kathy Is 60 Years of Age and Self-Employed

question 38

Multiple Choice

Kathy is 60 years of age and self-employed. During 2020, she reported $534,000 of revenues and $106,800 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 2020?Assume she pays $28,348 in self-employment for 2020. (Round your final answer to the nearest whole number.)

• A)$57,000.
• B)$63,500.
• C)$102,105.
• D)$82,605.

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Definitions:

Dispositional Explanations

An approach to explaining behavior by attributing it to internal traits or personality factors of the individual.

Reformulated Learned Helplessness

A theory suggesting that individuals learn they have no control over unpleasant or harmful situations, which leads to passive and depressive responses, revised to include the role of cognitive factors.

Universal Helplessness

A theory suggesting a belief in being unable to control or influence outcomes in most or all areas of life, leading to a state of passive resignation.

Specific Attributions

The process of assigning a cause to a particular behavior or event, focusing on factors unique to that specific situation.