1. Jasmine runs a very successful business. In March 2020 she purchased and placed in service equipment costing $2,500,000. Her business net income is $5,000,000 (before any depreciation/cost recovery deductions).
   1. What is her maximum allowed deduction if she elects Additional First Year depreciation?
   2. What is her maximum allowed deduction if she elects Section 179 Expense and does not elect Additional First Year depreciation?
   3. What is her maximum allowed deduction if she does not elect Additional First Year depreciation or Section 179 expense?