C Question 16 1 pts Fox Corp., a calendar year corporation, purchased and placed into service factory machinery that cost $70,000 on December 17, 2017. No other asset was placed into service during 2017. Assuming the machinery qualifies as 7-year recovery property, what amount of depreciation is allowable for 2017? (Ignore IRC 179 and bonus depreciation.) $16,667 O $20,000 O $2,500 O $10,000