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Nancy owns a business. In 2 0 2 3 , she elected to deduct 1 7 9 expense for personal property used in her business

Nancy owns a business. In 2023, she elected to deduct 179 expense for personal property used in her business acquired at a total cost of $1,200,000. Nancy's business taxable net income for 2023, before consideration of the 179 expense, is $1,250,000. She did not elect to use straight-line depreciation, nor did she elect to take additional first-year depreciation. How much is Nancy's 179 deduction for 2023?

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