Cornfield, Inc. acquires and places in service a new machine (five-year MACRS property) on March 10, 2020, at a cost of $2,110,000. No other depreciable assets were placed in service during 2020. Cornfield, Inc. makes the election to expense the maximum amount under 179, but intentionally elects not to take any additional first-year depreciation. Cornfield, Inc. expects 2021 to be a slow year. The company therefore wants to maximize its 2020 depreciation deduction, even if such a choice will reduce the depreciation available in 2021. Determine the maximum depreciation deduction available to Cornfield, Inc. on its 2020 income tax return, assuming Cornfield, Inc. has taxable income of $670,000 (after deducting all other expenses, but before claiming any depreciation deduction)?