Part 1-On September 10, 2019, Arco purchases a new 7 year class asset (manufacturing equipment) for its business at a cost of $1,610,000, and places the asset in service immediately. The equipment is the only asset purchased in 2019. What is the total depreciation expense if Arco wishes to take Section 179 depreciation but elects not to use first year bonus depreciation? Assume Arcos net income prior to depreciation is $1,750,000.