On January 31, 2020, you placed in service a new piece of equipment in your Schedule C widget-making business namely, a brand new widget-making machine. It is the only depreciable asset you will place in service during all of 2020.

You paid exactly $1,000,000 for the machine. You do not want expensing or bonus depreciation or any other fancy cost recovery, just regular MACRS.

State exactly how much your 2020 MACRS deduction will be with respect to your new machine, and explain why that is the correct dollar amount.