Question: During 2 0 2 3 , Pencho is a self employed therapist, and his net income is 1 6 0 0 0 0 from his

During 2023, Pencho is a self employed therapist, and his net income is 160000 from his practice. Pencho's SEP-IRA Plan, a defined contribution plan, states that he will contribute the maximum amount allowable. Calculate Pencho's contribution.

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