Malcolm, a $38-$year$-$old single taxpayer, earned $$79,000$ in wages. Since he does not have any other income or adjustments, his modified adjusted gross income $($MAGI$)$ is also $$79,000.$ He is covered by a retirement plan at work.

Malcolm is very interested in saving for retirement, and he would like to contribute to a traditional IRA for $2023.$ However, he does not want to contribute more than he can deduct. What is his maximum deductible contribution for Tax Year $2023?$

$$0($He is not eligible to make a deductible contribution to a traditional IRA.$)$

$$2,600$

$$6,500$

$$7,500$