I would suggest that you consider the following:
1. If contributing to the IRA, you would be saving $1100. And that is a good thing.
2. You would not have access to $7500 for a period of time. That might not be a good thing if you need that money to live.
3. You will be required to make a Required Minimum Distribution (RMD), so it is possible that the entire $7500 will have to be distributed in 2024. Basically, you will be deferring payment of taxes for a year.
The benefits of contributions to a Traditional IRA after reaching age 73, diminish to a certain degree.