Everest Corp. acquires a machine (seven-year property) on January 10, 2023 at a cost of $2,902,000. Everest makes the election to expense the maximum amount under Sec. 179, but bonus depreciation is not claimed. If the taxable income from trade or business is $800,000, what is the amount of the Sec. 179 expensing deduction that is currently deductible for the year?

a. 2,902,000

b. 1,148,000

c. 800,000

d. none of these answer choices are correct