3. (5 points) Black Company acquires a new machine (five-year property) on January 10, 2021 at a cost of $1,250,000. Black makes the election to expense the maximum amount under $179. Black elects out of bonus depreciation. Black has taxable income of $2,000,000 before considering the depreciation. b. a. What is Black's total depreciation deduction (including Sec. 179 and MACRS) in 2021? 1,250,000 - 1,040,000 $1082000 = 210,000 x .20 42000 $168000 How would your answer change if Black's taxable income before the 179 election was only $600,000?