Loni Company paid $ 527,000 for tangible personalty in 2011 and elected to expense $ 500,000 of the cost (the limited dollar amount for 2011). Loni's taxable income before a Section 179 deduction was $ 394,100. Loni paid $63,700 for tangible personalty in 2012 and elected to expense the entire cost. Loni's taxable income before a Section 179 deduction was $ 228,000.
Compute Loni's Section 179 deduction and taxable income for 2011