2. (A) Blue Company acquires a new machine (seven-year property) on January 10, 2018, at a cost of $620,000. Blue makes the election to expense the maximum amount under 179, and wants to take any additional first-year depreciation allowed. No election is made to use the straight-line method. Determine the total deductions in calculating taxable income related to the machine for 2018 assuming Blue has taxable income of $800,000.

(MAKE SURE TO ACCOUNT FOR THE TCJA CHANGES OF 2017 IF RELEVANT)