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Hyde Corporation generated over $11 million in taxable income in 2023. The company acquired a...

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Accounting

Hyde Corporation generated over $11 million in taxable income in 2023. The company acquired a new HVAC system for its building at a cost of $1,350,000, which has a 39-year recovery period. The system was installed on March 15. Assuming Hyde opted for the Section 179 election for this purchase, calculate Hyde's cost recovery deduction for 2023.
a. $1,164,872
b. $1,157,564
c. $1,350,000
d. $1,161,928
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