Mr$.$ Brown $($age $60)$ and Mrs$.$ Brown $($age $54)$ received income from the following sources during the tax year: pension payments, Social Security benefits, savings account interest, and dividends. Their total AGI is $$34,000.$ To reduce their tax liability, they ask you if they should contribute to their IRAs before the filing deadline and, if so$,$ how much. How would you answer?

Select one:

a$.$ No$.$ Mr$.$ and Mrs$.$ Brown cannot contribute to their traditional or Roth IRAs this year.

b$.$ Yes. Mr$.$ and Mrs$.$ Brown should contribute $$6,500$ each to their respective traditional IRAs and claim an IRA deduction to reduce their tax liability.

c$.$ Yes. Mr$.$ and Mrs$.$ Brown should contribute $$7,500$ each to their respective Roth IRAs and claim an IRA deduction to reduce their tax liability.

d$.$ Yes. Mr$.$ and Mrs$.$ Brown should contribute $$7,500$ each to their respective traditional IRAs and claim an IRA deduction to reduce their tax liability.