​An Asset (Not an Automobile) Put in Service in June

Multiple Choice

​An asset (not an automobile) put in service in June 2016 has a depreciable basis of $535,000, a recovery period of 5 years, and is the only asset placed in service during the year. Assuming bonus depreciation is used, a half-year convention, and the expensing election is made, what is the maximum amount of cost that can be deducted in 2016 (assume no income limitation) ?

A) ​$267,500
B) ​$321,000
C) ​$500,000
D) ​$521,000
E) ​$535,000