3 QUESTION 29 Blue Company acquires a new machine (seven-year property) on April 16, 2020, at a cost of $430,000. 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. Blue's taxable income before the depreciation deduction is $580,000. Determine Blue's cost recovery (depreciation) deduction for 2020. 3 QUESTION 30 Gus contributed stock to his college alma mater worth $12,000. If he acquired the stock 10 months ago for $5,000, how much can he deduct as a charitable contribution