Kathy Is 48 Years of Age and Self-Employed

question 59

Multiple Choice

Kathy is 48 years of age and self-employed. During 2020 she reported $126,000 of revenues and $50,400 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)$14,052.
• B)$17,165.
• C)$71,300.
• D)$57,000.

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Definitions:

Pooled Sample Data

Combined data from two or more samples, often used in statistical analyses to gain more precise estimates of population parameters.

Wilcoxon Test Statistic

A non-parametric test statistic used to compare two paired groups, assessing whether their population mean ranks differ.

Two-Tail

Refers to a type of hypothesis test that considers both directions of difference or effect, looking for deviations in two opposite directions.

Level Of Significance

The probability threshold below which a result is considered statistically significant.