Laven Company, a calendar year taxpayer, purchased a total of $561,240 new depreciable personalty during 2019. Which of the following statements is true?
A. The amount of the cost that Laven can elect to expense depends on Laven's 2017 taxable income.
B. Laven can expense the entire $561,240 cost using 100% bonus depreciation.
C. Laven can elect to expense $510,000 of the cost. The $51,240 remaining cost is capitalized and is not depreciable.
D. Laven can elect to expense $561,240 of the cost with a Section 179 deduction.
Answer: D
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