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NEW QUESTION: 1
Bubba Corporation has a profit sharing plan. The company president, Bubba, is receiving the maximum
plan contribution amount. The corporation has one other employee, who is eligible for the plan. If this
person earns $12,000 per year, how much must be deposited in the plan for the employee?
$3,000. The maximum contribution is 25% of compensation. That percentage of $12,000 is