I am in process of making a part & could use some pointers.. (Lathe is an Atlas QC54. Am using HSS tooling) The part is a ring, 2.25 OD x .75 ID x 1.00" long/thick. On one side is a recess, or counterbore, of 1.625 dia x .875" deep. What would be your choice of HSS cutting tool and process to make this recess? I've looked at some youtube videos & haven't found much in common amongst them. Help please? Thanks!