Problem 8-41 (LO. 2, 3, 9) Lori, who is single, purchased 5-year class property for $200,000 and 7-year class property for $410,000 on May 20, 2017. Lori expects the taxable income derived from her business (without regard to the amount expensed under 179) to be about $800,000. Lori wants to elect immediate 179 expensing, but she doesn't know which asset she should expense under 179. She does not claim any available additional first-year depreciation. Click here to access Exhibit 8.1 and the depreciation table to use for this problem. If an amount is zero, enter "O". a. Determine Lori's total cost recovery deduction if the S 179 expense is first taken with respect to the 5-year class asset. 5-year class property Immediate expense deduction under S 179 Regular MACRS 7-year class property Immediate expense deduction under S 179 Regular MACRS Total deduction 300,000 14,290