Assume that Timberline Corporation has 2016 taxable income of $240,000 before the 179 expense. a. What is

Assume that Timberline Corporation has 2016 taxable income of $240,000 before the §179 expense.

a. What is the maximum amount of §179 expense Timberline may deduct for 2016? What is Timberline's §179 carryforward to 2017, if any?
b. What would Timberline's maximum depreciation expense be for 2016 assuming no bonus depreciation?
c. What would Timberline's maximum depreciation expense be for 2016 if the furniture cost $2,000,000 instead of $350,000 and assuming no bonus depreciation?

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Basis Asset Fumiture (7-year) Computer Equipment (5- year) Copier (5-year) Machinery (7-year) Total Purchase Date $350,000 February 28 July 15 May 22 90,000 30,000 480,000 S950,000