Gantsooj acquired and placed in service $1,100,000 of equipment on August 1, 2020 for use in her sole proprietorship. The equipment is 5-year recovery property. No other acquisitions are made during the year. Gantsooj elects to expense the maximum amount under Sec. 179, and bonus depreciation is not applied. Gantsooj's total deductions for 2020 (including Sec. 179 and depreciation) are A) $1,040,000. B) $1,052,000. C) $1,053,000. D) $1,100,000.