During 2023, Pencho is a self-employed therapist, and his net earned income is $170,000 from his practice. Pencho's SEP-IRA Plan, a defined contribution plan, states that he will contribute the maximum amount allowable. Calculate Pencho's contribution.
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During 2023, Pencho is a self-employed therapist, and his net earned income is $170,000 from his practice. Pencho's SEP-IRA Plan, a defined contribution plan, states that he will contribute the maximum amount allowable.
Calculate Pencho's contribution.
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