Ann Is the Sole Owner of a Computer Store and Established

question 60

Multiple Choice

Ann is the sole owner of a computer store and established a simplified employee pension plan (SEP) for herself and her two full-time employees. Her net self-employment income for the year is $70,000. The maximum amount she can contribute to her SEP is

• A)$9,130
• B)$10,500
• C)$14,000
• D)$17,500
• E)$49,000

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Definitions:

Retrieval Cues

Stimuli that assist in the recall of information stored in memories, facilitating access to stored information.

Stairs

A set of steps or flights of steps for passing from one level to another, often inside or outside buildings.

Steep

Descriptive of an object or a surface having a sharp inclination or angle.

Perceives

The process of becoming aware of something through the senses.