Turner Corporation uses the calendar year as its tax year. It purchases and places into service $1.97 million of property during 2017 to use in its business:

What is Turner€™s total depreciation deduction for 2017 in each of the following circumstances?

a. Turner does not claim Sec. 179 expensing or bonus depreciation.

b. Turner claims Sec. 179 expensing for $510,000 of the office furniture€™s cost.

c. Turner claims Sec. 179 expensing for $90,000 of the office furniture€™s cost and $420,000 of the office machinery€™s cost.

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Placed into service May 1 June 23 Recovery Period Cost 27.5 years 7 years Apartment building* Office furniture** Office machinery** $900,000 $650,000 $420,000 October 15 * $80,000 of the cost pertains to the land on which the apartment building is located. ** Turner purchased the office furniture and office machinery from another business that had been using them for a few years.