At the beginning of its 2019 tax year, Hiram owned the following business assets Furniture Equipment Machinery Date Placed in Service 6/19/17 5/2/16 9/30/16 Initial Cost $54,750 82,500 75,000 Accumulated Depreciation $21, 232 58,740 53,400 Recovery Depreciation Period Convention 7-year Half-year 5-year Half year 5-year Half-year On July 8, Hiram sold its equipment. On August 18, it purchased and placed in service new tools costing $598,000; these tools are three-year recovery property. These were Hiram's only capital transactions for the year. Compute Hiram's maximum cost recovery deduction for 2019. In making your computation, assume that taxable income before depreciation exceeds $1,090,000. Use Table 72 (Enter all amounts os positive values. Round your intermediate computations and final answers to the nearest whole dollar amount.) 2019 MACRS Depreciation Furniture Equipment Machinery Total MACRS Depreciation Section 179/bonus on new tools Total 2019 cost recovery TABLE 7.2 3-Year Year 1 2 7.219 33.33% 44.45 14.81 741 8.55 9.22 5.76 MACRS for Business Personalty (Half-Year Convention) Recovery Period 5-Year 7-Year 10-Year 15-Year 20-Year Depreciation Rate 20,00% 14.29% 10.00% 5.00% 3.750% 32.00 24.49 18.00 9.50 19.20 17.49 14.40 6.677 11.52 12.49 11.52 770 6.177 11.52 8.93 6.93 5.713 8.92 6.23 5.285 8.93 4.888 4.46 4.522 4.462 5.90 4.461 3.28 5.91 4.462 5.90 4.461 5.91 4.462 5.90 4.461 4.462 2.95 4.461 4.462 5.90 6.5 5.91 6.56 6.55 4.461 4.462 4.461 2.231