Pete Is 45 and Participates in His Employer's Section 401(k)plan

Pete is 45 and participates in his employer's Section 401(k) plan which allows employees to contribute up to 15 percent of their salary.His annual salary is $120,000 in 2011.What is the maximum he can contribute to this plan on a tax deferred basis under a salary reduction agreement?

A) $10,000
B) $5,000
C) $16,500
D) $18,000
E) None of the above