SEP for going out of business

[Santo Gold]

Any comments are appreciated:

A C-Corp has no employees, only the owner. She maintained a SIMPLE (assumed to be SIMPLE IRA) through 2008. She now wants to do a SEP in 2009. The company will cease to be in existence after 6/30/09.

(1) I don't see a problem starting a SEP since she is not funding the SIMPLE in 2009 or later

(2) Is there a permanence problem with her starting a new plan in 2009 and having it only be around for 6 months?

(3) Her comp for 2009 will be around $150,000. Can she put in 25% of $150,000, or is the comp. limit pro-rated to $122,500, meaning she can only put in up to 25% of $122,500.

Thanks