Question: Chapter 10 - Question 7 : Help me to explain this. Thank you Maxine, age 35, earns $200,000 annually from ABC Incorporated. ABC sponsors a

Chapter 10 - Question 7 :

Help me to explain this. Thank you

Maxine, age 35, earns $200,000 annually from ABC Incorporated. ABC sponsors a SIMPLE, and matches all employee deferrals 100% up to a 3% contribution. What is the maximum employee deferral contribution to Maxines SIMPLE account for 2018?

  1. $6,000
  2. $12,500.
  3. $15,500.
  4. $18,500

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