Frank is the sole proprietor of a small business.In 2019, the business income for purposes of computing the Section 179 deduction is $350,000.During the year, the following assets were placed in service.(Assume no bonus depreciation)

Asset # 1 - Machinery- $1,790,000

Asset # 2 - Equipment - $365,000

Asset # 3 - Computer - $96,000

Asset # 4 - Equipment - $468,000

3a) Calculate the amount of the phase out limitation?