On June 15, 2010, Chang purchases equipment (7-year property) for use in his business. He pays $137,500 for the equipment. For 2010, Chang has

$137,500 of taxable income from his business. Calculate the total amount of Chang’s depreciation deduction (including both regular depreciation, bonus depreciation, and any deduction allowable under the election to expense) for 2010 for the equipment, assuming he makes the election to expense and his goal is to maximize 2010 deductions.