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Patterson Corporation uses the calendar year as its tax year. It acquires and places into service two depreciable assets during 2019: ' Asset #1: 7-year property; $955,000 cost; placed into service on January 20. ' Asset #2: 5-year property; $420,000 cost; placed into service on August 1. 5 (Click the icon to view the MACRS half-year convention rates.) Read the muirements. Sec. 119 expense s 955.000' $ 65.000' s 1.020.000' Bonus depreciation $ 0' $ 355.000' $ 355.000V V ' V MACRS depreciation $ 0 g g $ 955,000V $ 420,000' $ 1,375,000' Total depreciation Now determine Patterson's depreciation deduction for 2020 if it elects Sec. 179 expensing and does not elect out of bonus depreciation for the assets. (Use MACRS rates to two decimal places, X.XX%. Round the MACRS depreciation to the nearest dollar. Complete all input elds. Enter a "0" no depreciation is taken.) Asset #1 Asset #2 Total 2020 Sec. 179 expense Bonus depreciation MACRS depreciation Total depreciation Enter any number in the edit fields and then click Check