Clay LLC placed in service machinery and equipment (seven-year property) with a basis of $3,464,500 on June 6, 2020. Assume that Clay has sufficient income to avoid any limitations. Calculate the maximum depreciation expense including §179 expensing (ignoring any possible bonus depreciation). (Use MACRS Table 1.) (Round final answer to the nearest whole number.)
A) $1,040,000
B) $495,077
C) $471,427
D) $636,927
E) None of the choices are correct.

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The Answer of Clay LLC placed in service machinery and equipment (seven-year property) with a basis of $3,464,500 on June 6, 2020. Assume that Clay has sufficient income to avoid any limitations. Calculate the maximum depreciation expense including §179 expensing (ignoring any possible bonus depreciation). (Use MACRS Table 1.) (Round final answer to the nearest whole number.)
A) $1,040,000
B) $495,077
C) $471,427
D) $636,927
E) None of the choices are correct.

Clay LLC Placed in Service Machinery and Equipment (Seven-Year Property)