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Problem 5-12 Small Business and Self-Employed Retirement Plans (LO 5.4) Mario,...

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Accounting

Problem 5-12
Small Business and Self-Employed Retirement Plans (LO 5.4)
Mario, a self-employed plumber, makes a maximum contribution to a SEP for his employee, Peach. Peach's compensation is $50,000 for the year. How much is he allowed to contribute to the plan for Peach?
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