A company contributes 11% of total compensation into Profit Sharing Plans on the basis of Age Weighted Maximum Contributions of $50,000 to Owner. It uses 8% as interest factor and pays the following compensation to its owner and two employees: Elizabeth (owner; age 55): $175,000; Santiago (age 41): $125,000 and Jennifer (age 28): $60,000. The retirement age for these employees is 65 years. Calculate the total contribution as % of compensation for this company?
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A.
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17.86%
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B.
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15.79%
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C.
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13.23%
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D.
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18.25%
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