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On March 10, 2020, Night Corporation purchased $2,400,000 of machinery and equipment (7-year property) and $680,000 of qualified improvement property (15-year property) for use in its business. All of the assets are eligible for expensing under Section 179 and/or bonus depreciation during 2020. Assuming that these are Night's only asset purchases during 2020, compute and compare its allowable deductions assuming one option is to expense as much of the asset purchases as possible and use MACRS depreciation (no bonus deprecation) for any remaining amounts and a second option is to use bonus deprecation for all of the asset purchases. Show your computation under each option