Harry owns a condominium unit in a condominium office building used exclusively in his consulting business. The condominium unit contains two restrooms for clients. In $2020,$ he pays $$40,000$ to renovate and improve the bathrooms. He replaces the tiles, bathtubs, sinks$,$ toilets, pipes and other bathroom fixtures. Harry paid $$30,000$ for labor and $$10,000$ for materials for the renovation. How should Harry treat his expenditures in $2020?$

a$)$ Harry must expense the $$30,000$ for labor and capitalize the $$10,000$ for materials

b$)$ Harry must capitalize the entire cost of $$40,000$

c$)$ Harry must expense the entire cost of $$40,000$

d$)$ Harry must capitalize the $$30,000$ for labor and expense the $$10,000$ for materials

e$)$ Harry may expense the entire cost of $$40,000$ but only if he made the de minimis safe harbor election