It is not 77%

A taxpayer places in service the following used properties during the year. Type of property Date placed in service Machinery March 17 Equipment October 25 Warehouse November 8 Cost 55,000 1,044,000 160,000 The taxpayer elects to expense the maximum amount of Section 179 expense allowed in 2020 and elects to apply Section 179 to the equipment. For purposes of determining whether the half-year or mid- quarter convention applies, the percentage of property placed in service in the fourth quarter is: O 43.1%. O 6.8%. 77.0%. 90.5%. O 20.6% A taxpayer places in service the following used properties during the year. Type of property Date placed in service Machinery March 17 Equipment October 25 Warehouse November 8 Cost 55,000 1,044,000 160,000 The taxpayer elects to expense the maximum amount of Section 179 expense allowed in 2020 and elects to apply Section 179 to the equipment. For purposes of determining whether the half-year or mid- quarter convention applies, the percentage of property placed in service in the fourth quarter is: O 43.1%. O 6.8%. 77.0%. 90.5%. O 20.6%