A Taxpayer Places a $550,000 5-Year Recovery Period Asset in Service

Multiple Choice

A taxpayer places a $550,000 5-year recovery period asset in service in 2017.This is the only asset placed in service in 2017.Assuming half-year convention,an election to expense under Section 179,and no income limitation,what is the amount of total cost recovery deduction (no bonus depreciation) ?

A) $10,000
B) $50,000
C) $510,000
D) $518,000
E) $550,000