During $2024,$ Jacob, a $19-$year$-$old full$-$time student, earned $$4,550$ during the year and was not eligible to participate in an employer$-$sponsored retirement plan. The general limit for deductible contributions during $2024$ is $$7,000.$ How much of a tax$-$deductible contribution can Jacob make to an IRA?

Multiple Choice

$$0($Full$-$time students are not allowed to participate in IRAs$)$

$$505$

$$4,550$

$$7,000$