Question: Chapter 10 : Question 6 Hi, Please help me to solve this question with detailed explain. Thanks Henry Hobbs, age 42, has compensation of $72,000.

Chapter 10 : Question 6

Hi, Please help me to solve this question with detailed explain. Thanks

Henry Hobbs, age 42, has compensation of $72,000. The normal retirement age for his 457(b) plan is age 62. Henry has unused deferrals totaling $21,000 as of the beginning of the year. How much can Henry defer into his 457(b) public plan for 2018? A.

$18,500 B.

$24,500 C.

$27,000. D.

$37,000.

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