Kemp Inc,a Calendar Year Taxpayer,generated Over $10 Million Taxable Income in in 2019.Kemp

Multiple Choice

Kemp Inc.,a calendar year taxpayer,generated over $10 million taxable income in 2019.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 2019 cost recovery deduction.

A) $1,543,600
B) $1,077,680
C) $1,000,000
D) None of the above