Eun$-$Jung has a profitable import business she has built over several years of Eun$-$Jung is looking at an Individuat $401($k$).$ Complete the following workshe

Note: Use IF function to display either a "Yes" or $"$No$"$ for Catch$-$up Contribu

$\backslash$table$[[$fs$],[,,$Individual $401($k$)],[$Annual Contribution Limit,,$69,000],[,,],[$Schedule C Net Income,,$40,000],[$Less: $50\%$ Self$-$Employment Tax Deduction,,$5,652],[$Sch C Net Income less SE Tax Deduction,,$34,348],[20\%$ Employer's Contribution Limit,,$6,870],[$Employee$\text{'}$s Contribution Limit,,$22,500],[$Second Limitation,$r,22,500],[,,],[$Date of Birth,,$8/18/1974],[$Tax Year End,,$12/31/2024],[$Age of Taxpayer at year end,$r,1,950],[$Eligible for Catch$-$up Contribution?,,$5],[$Maximum Contribution after catch$-$up$,,\text{'}69,000],[$Maximum Contribution,$r,29,370]]$

Eun$-$lung has a profitable import business she has buit over several years of hard work. The bosiness is a single$-$member LiC and reported under her personal income tax return on Schedule C$.$ fun$-$lung is looking at an individual $401($k$).$ Complete the following workheet to determine her maximum contribution allowed for $2024.$

Note: Use IF function to display either a "Yes" or $"$No$"$ for Catch$-$up Contribution elgiblity, Use the YEAR function to determine the taxpayer's age at year end.

$\backslash$table$[[7,],[8,,$Individual $401($k$)],[9,$Annual Contribution Limit,,$69,000],[0,,,],[1,$Schedule C Net Income,,$40,000],[2,1\mathrm{.}5$s: SOO Self$-$Employment Tax Deduction,$F,5\mathrm{.}652],[3,$Sch C Net Income less SE Tax Deduction,$r,34,348],[14,20\%$ Employer's Contribution Limit,$r,6,870],[15,$Employee's Contribution Limit,,$22\mathrm{.}500],[16,$Second Limitation,F$,22,500],[17,,,],[18,$Date of Birth,,$8/18/1974],[19,$Tax Year End,,$12/31/2024],[20,$Age of Taxpayer at year end,$r,1\mathrm{.}950],[21,$Fligible for Catch$-$up Contribution?,$F,$Ves$],[22,$Maximum Contribution after catch$-$up$,F,69,000],[23,],[24,$Maximum Contribution,$r,29,370],[25,,,]]$