Allegheny Consolidated Stores Inc. places $3,000,000 of non-real estate in service in 2021. The property is all new property. Allegheny Consolidated's taxable income before any deduction for this property is $5,000,000. Select the correct answer from the list below.

Question options:

a. The company can expense up to $1,050,000 of the property under Section 179 and can use bonus depreciation for any new property but not for any used property.

b. The company may use $670,000 of Section 179 expense and may write-off the remaining amount of property using bonus depreciation.

c. None of the above.