ABC Co., a calendar year taxpayer, paid $1,339,000 for new machinery (seven- year recovery property) placed in service on August 29, 2020. The machinery was id=_7187908_1&course_id=_69299_1&content_id=_1473684_1&outcome_id=_7219211_1&outcome_definition_id=_518130_1 ...-Review Test Submission: ACCT 409 Exam || - 202-ACCT-409 ABC Co. only asset purchase during 2020, and ABC Co. taxable income before any Section 179 deduction was $14 million. 1. Compute ABC Co. 2020 cost recovery deduction with respect to the machinery. 2. How would your answer change if the cost of the machinery was $2,150,000 instead of $1,339,000? 3. How much Section 179 expense would be taken in part a if ABC Co. taxable income before any Section 179 deduction was $281,400 instead of $14 million