On July 8, Hiram sold its equipment. On August 18, it purchased and placed in service new tools costing $613,000; these tools are three-year recovery property. These were Hirams only capital transactions for the year. Compute Hirams maximum cost recovery deduction for 2019. In making your computation, assume that taxable income before depreciation exceeds $1,240,000. Use Table 7-2. (Enter all amounts as positive values. Round your intermediate computations and final answers to the nearest whole dollar amount.)

At the beginning of its 2019 tax year, Hiram owned the following business assets: Furniture Equipment Machinery Date Placed in Service 6/19/17 5/2/16 9/30/16 Initial Cost $31,000 81,750 81,000 Accumulated Recovery Depreciation Depreciation Period Convention $12,022 7-year Half-year 58,206 5-year Half-year 57,672 5-year Half-year 2019 MACRS Depreciation Furniture Equipment Machinery Total MACRS Depreciation Section 179/bonus on new tools Total 2019 cost recovery