Kemp Incorporated, a calendar year taxpayer, generated over $10 million taxable income in 2022 . Kemp made one asset purchase: used manufacturing equipment costing $1,543,600. The equipment has a 7-year recovery period and was placed in service on June 14. Assuming that Kemp made the Section 179 election with respect to the equipment, compute Kemp's 2022 cost recovery deduction. Multiple Choice $1,543,600 $1,077,680 $1,080,000 None of these choices are correct