Kemp Inc, a Calendar Year Taxpayer, Generated Over $10 Million Taxable

Kemp Inc., a calendar year taxpayer, generated over $10 million taxable income in 2020. Kemp made one asset purchase: used manufacturing equipment costing $1,543,600. The equipment has a 7-year recovery period and was placed in service on June 14. Assuming that Kemp made the Section 179 election with respect to the equipment, compute Kemp's 2020 cost recovery deduction.

A) $1,543,600
B) $1,077,680
C) $1,000,000
D) None of these choices are correct