$(1)$

Required information

Problem $10-58($LO $10-2,$ LO $10-3)($Static$)$

$[$The following information applies to the questions displayed below.$]$

Assume that Timberline Corporation has $2023$ taxable income of $$240,000$ for purposes of computing the $$179$ expense. It acquired the following assets in $2023$: $($Use MACRS Table $1,$ Table $2,$ Table $3,$ Table $4,$ and Table $5.)$

$\backslash$table$[[$Asset$,$Purchase Date,Basis$],[$Furniture $(7-$year$),$December $1,$$$550,000$