On April 20, 2020, Javier Sanchez purchased and placed in service a new 7-year class asset costing $455,600 for use in his landscaping business, which he operates as a single member LLC (Sanchez Landscaping LLC). Rather than using bonus depreciation, Javier would like to use § 179 to expense $200,000 of this asset and then use regular MACRS to cost recover the remaining cost. During 2020, his business generated a net income of $546,720 before any § 179 immediate expense election.