Assume that Tim Corporation has 2020 taxable income of $240,000 for purposes of computing the 179 expense. It acquired the following assets in 2020: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)

ASSET PURCHASE DATE BASIS

Furniture (7-year) December 1 $ 450,000

Computer equipment (5-year) February 28 $90,000

Copier (5-year) July 15 $30,000

Machinery (7-year) May 22 480,000

Total $ 1,050,000

c. What would Tims maximum depreciation expense deduction be for 2020 if the machinery cost $3,500,000 instead of 480,000 and assuming no bonus depreciation?