Problem 5-10 (Algorithmic) Simplified Employee Pensions (LO 5.4) During 2022, Jerry is a self-employed therapist, and his net earned income is $121,600 from his practice. Jerry's SEP Plan, a defined contribution plan, states that he will contribute the maximum amount allowable. Calculate Jerry's contribution. 30,400 X

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Problem 5-10 (Algorithmic)
Simplified Employee Pensions (LO 5.4)
During 2022, Jerry is a self-employed therapist, and his net earned income is $121,600 from his practice. Jerry's SEP Plan, a defined contribution plan, states that he will contribute
the maximum amount allowable.
Calculate Jerry's contribution.
30,400 X
Transcribed Image Text:Problem 5-10 (Algorithmic) Simplified Employee Pensions (LO 5.4) During 2022, Jerry is a self-employed therapist, and his net earned income is $121,600 from his practice. Jerry's SEP Plan, a defined contribution plan, states that he will contribute the maximum amount allowable. Calculate Jerry's contribution. 30,400 X
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