Kathy is 48 years of age and self-employed. During 2023 she reported $132,000 of revenues and $52,800 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 a SEP IRA for 2023?
Note: Round your final answer to the nearest whole number.
Multiple Choice
$14,721
$21,221
$97,020
$66,000