7. 10 Points: Mason Container Co., a calendar year taxpayer, which is undergoing an IRS audit, purchased and put into service a 3-year depreciable property for $3,500,000 this year on December 15 , which was its only purchase of depreciable property. Mason wanted to take the largest possible first-year cost-recovery deduction related to this property. Compute the largest tax deduction possible related to this business equipment. (Use the current rates and numbers as per the Master Tax Guide.)