2. A taxpayer purchased and placed into service a $1,690,000 piece of equipment. The equipment is 7-year property having a 14.29% applicable depreciation rate for the first year. The taxpayer is making a Section 179 election but is elected out of any bonus depreciation. Assume that the maximum Section 179 limit is $1,020,000 and the threshold is $2,550,000. Before considering any depreciation deduction, the taxpayer had $2,700,000 of taxable business income. What is the maximum amount of cost recovery deduction this year