Which of the Following Statements Is Correct

Which of the following statements is correct?

A) Contributions to SEP plans by self-employed taxpayers are generally limited to the lesser of 15 percent of their net earned income (before the SEP deduction) or $45,000.
B) The contribution limits for SEPs are the lesser of 25 percent of net self-employment income or $54,000 for a self-employed taxpayer.
C) Employees may elect to make annual contributions to 401(k) plans up to the lesser of 15 percent of their net earned income (before the 401(k) deduction) or $45,000.
D) The contribution limits for SEPs are a maximum of $18,000 ($24,000 for taxpayers 50 or older) .