Kathy Is 48 Years of Age and Self-Employed

question 16

Multiple Choice

Kathy is 48 years of age and self-employed.During the year she reported $400,000 of revenues and $100,000 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) ?

• A)$51,000
• B)$56,500
• C)$74,287
• D)$79,787

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Definitions:

D₅W

A solution containing 5% dextrose (sugar) in water, used intravenously to supply calories and fluids.

Infuse

To introduce a substance, such as a drug or nutrient, into the body, typically through intravenous delivery.

Organizational Effectiveness

The ability of an organization to achieve its goals and objectives efficiently and effectively.

Management Systems

Organized frameworks that are designed to manage an organization's policies, processes, and procedures toward achieving its objectives.