Kyra purchased video recording equipment. The equipment is used $40\%$ for her wedding photography business and $60\%$ for personal purposes. Which of the following correctly describes how the equipment will be treated?

The straight line method of depreciation is required.

Bonus Depreciation is permitted for up to $40\%$ of the purchase price.

GDS recovery is required.

The section $179$ deduction is limited to net profits from the business.