At the beginning of its 2023 tax year, Hiram owned the following business assets: On July 8 , Hiram sold its equipment. On August 18 , it purchased and placed in service new tools costing $600,000; these tools are three-year recovery property. These were Hiram's only capital transactions for the year. Required: Compute Hiram's maximum cost recovery deduction for 2023. In making your computation, assume that taxable income before depreciation exceeds $1,110,000. Use Table 7-2. Note: Enter all amounts as positive values. Round your intermediate computations and final answers to the nearest whole dollar amount