Bravo Co. acquired and placed in service $3,160,000 in machinery and equipment throughout the 2024 tax year. Bravo did not acquire any other depreciable assets during 2024. Assuming the § 179 taxable income limit does not apply, what is the maximum § 179 expense that Bravo Co. can elect and deduct in 2024?
a. $110,000
b. $1,110,000
c. $1,220,000
d. $3,050,000