Belsap Inc., a calendar year taxpayer, purchased a total of $590,000 depreciable personalty during May 2019. Which of the following statements is true?

A.) Belsap can elect to expense 100% of the cost.

B.) The amount of cost that Belsap can elect to expense depends on Belsap's 2017 taxable income.

C.) Belsap can elect to expense $510,000 of the cost. The $80,000 remaining cost is capitalized and subject to MACRS depreciation.

D.) Belsap can elect to expense $510,000 of the cost. The $80,000 remaining cost is capitalized and is not depreciable.

C is INCORRECT