MNO is a calendar year taxpayer. On March 1, MNO signed a 36-month lease on 2,100 square feet of commercial office space. It paid a $3,240 fee to the real estate agent who located the space and negotiated the lease and $8,800 to install new overhead lighting in the office space. Lighting equipment is seven-year recovery property. Compute MNO’s first-year cost recovery deduction with respect to the $12,040 cost relating to the lease space.