Practice Problem 4-Section 179 Abbott, LLC only purchased one asset this year. Abbott LLC placed in service on October 9, 2018 machinery and equipment (7-year property) with a basis of $2,600,000. Assume Abbott, LLC has business income of $4,000,000. Calculate the maximum Section 179 deduction (ignore bonus depreciation) for the year, rounded to the nearest whole number. Assume the 2018 Section 179 limit is $1,000,000. (Phase-out starts at S2,500,000.)