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Assume AMP Corporation (calendar year end) has 2017 taxable income of $900,000 for purposes of computing the 179 expense. During 2017, AMP acquired the following

Assume AMP Corporation (calendar year end) has 2017 taxable income of $900,000 for purposes of computing the §179 expense. During 2017, AMP acquired the following assets:


Placed in



Asset

Service


Basis

Machinery

September 12

$

1,550,000

Computer equipment

February 10


365,000

Office building

April 2


480,000

Total


$

2,395,000

What is the maximum total depreciation expense, including §179 expense, that AMP may deduct in 2017 on the assets it placed in service in 2017 assuming no bonus depreciation?

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