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Colin owns and operates Colins Creative Coaching (3C), a sole proprietorship. 3C sponsors a 401(k)/ profit-sharing plan. Col

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Answer #1

ANSWER:

C. $ 63,500

Explanation:

Colin can contribute a maximum of $ 63,500.

Break up the above is

Maximum Limit for 2020 is $ 57,000 and

$ 6,500 (which is towards catch -up contributions ) for those who are above the age of 50.

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