apparently translates to
I'm working on it.
Is 今 functioning as an adverb that modifies the sentence's verb[s], or is it functioning as an adjective that's modifying それ?
The phrase "今それをやっている" seems to translate to something like "I am doing today's thing", but what is the "ところだ" tacked onto the end of the sentence doing? I'm assuming だ is the copula? So doesn't that mean this sentence has two verbs (やっている + だ)? How is that possible?