At the beginning of its 2021 tax year, Hiram owned the following business assets:

	Date Placed in Service	Initial Cost	Accumulated Depreciation	Recovery Period	Depreciation Convention
Furniture	6/19/19	$54,750	$21,232	7-year	Half-year
Equipment	5/2/18	82,500	58,740	5-year	Half-year
Machinery	9/30/18	75,000	53,400	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 Hirams only capital transactions for the year.

Required:

Compute Hirams maximum cost recovery deduction for 2021. In making your computation, assume that taxable income before depreciation exceeds $1,090,000. Use Table 7-2. (Enter all amounts as positive values. Round your intermediate computations and final answers to the nearest whole dollar amount.)

TABLE 7.2 MACRS for Business Personalty (Half-Year Convention)

Recovery Period
Year	3-Year	5-Year	7-Year	10-Year	15-Year	20-Year
	Depreciation Rate
1	33.33%	20.00%	14.29%	10.00%	5.00%	3.750%
2	44.45	32.00	24.49	18.00	9.50	7.219
3	14.81	19.20	17.49	14.40	8.55	6.677
4	7.41	11.52	12.49	11.52	7.70	6.177
5		11.52	8.93	9.22	6.93	5.713
6		5.76	8.92	7.37	6.23	5.285
7			8.93	6.55	5.90	4.888
8			4.46	6.55	5.90	4.522
9				6.56	5.91	4.462
10				6.55	5.90	4.461
11				3.28	5.91	4.462
12					5.90	4.461
13					5.91	4.462
14					5.90	4.461
15					5.91	4.462
16					2.95	4.461
17						4.462
18						4.461
19						4.462
20						4.461
21						2.231