Rex's Wrecks purchased $$150,000$ in new equipment during the current year. Rex's gross business income for the year is $$1,150,000$ and his business expenses $($including regular and bonus depreciation$)$ before Section $179$ deduction total $$1,200,000.$ Assuming Rex wants to take the maximum Section $179$ deduction allowable, which of the following statements is correct?

Multiple choice question.

He can expense $$50,000$ in the current year and carry forward $$100,000$ until next year.

He can expense all $$150,000$ in the current year and have nothing to carry forward until next year.

He can NOT use the Sec. $179$ expense this year.

He can expense the maximum $$1,020,000$ in the current year and have nothing to carry forward until next year.

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Wrong answers will get $10$ dislikes. Need a Genuine and correct answer. Do not copy from others.