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Sophie owns an unincorporated manufacturing business. In July, 2021, she purchases and places in service...

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Accounting

Sophie owns an unincorporated manufacturing business. In July, 2021, she purchases and places in service $2,680,000 of qualifying five-year equipment for use in her business. Her taxable income from the business before any Sec. 179 deduction is $995,000. Sophie elects to expense the maximum under Sec. 179 and does not apply bonus depreciation.

What is Sophie's maximum total cost recovery deduction (MACRS depreciation and Sec. 179) for 2021?

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