Raven Company, a calendar year taxpayer, purchased a total of $561,240 new depreciable personalty during 2021. Which of the following statements is true?

Multiple Choice

• Raven can elect to expense $561,240 of the cost with a Section 179 deduction.
• Raven can expense $280,620 of the cost using 50% bonus depreciation.

• Raven can elect to expense $510,000 of the cost. The $51,240 remaining cost is capitalized and is not depreciable.

• The amount of the cost that Raven can elect to expense depends on Raven's 2021 taxable income.