​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 $2,035,000, a recovery period of 5 years, and is the only asset placed in service this 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) ​$407,000
B) ​$1,411,000
C) ​$2,010,000
D) ​$2,035,000
E) ​None of the above