In the current year, Taylor Corporation acquires $1,140,000 of 7-year MACRS property and places it into service in its business. Taylor Corporation elects to expense $1,040,000 of the cost under Sec. 179. Assume Taylor does not claim bonus depreciation and the half-year convention applies to the property. What is Taylor's total depreciation for the current year. O $1,140,000 O $1,054,290 O $14,290 O $1,040,000