On June 5, 2021, Javier Sanchez purchased and placed in service a new 7-year class asset costing $560,000 for use in his landscaping business, which he operates as a single-member LLC (Sanchez Landscaping LLC). During 2021, his business generated a net income of $945,780 before any 179 immediate expense election. Rather than using bonus depreciation, Javier would like to use 179 to expense $200,000 of this asset and then use regular MACRS to cost recover the remaining cost.

a. Complete Javier's Form 4562 (page 1) for 2021.

Note: For 2021, the maximum 179 is $1,050,000 and the threshold amount is $2,620,000. If an amount is zero, enter "0". Enter amounts as positive numbers.