Problem 4 Scott purchased 3 assets for his business in 2017. He purchased a new 3-year asset for $40,000 on January 21, 2017. He purchased a new 5-year asset for $800,000 on May 20, 2017, and he purchased a warehouse for $2,000,000 on October 20, 2017. Assuming his taxable income before Section 179 expense is $700,000, calculate Scott's total cost recovery deduction for 2017. Scott's total cost recovery deduction for 2017