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10-60 (LO 10-2, LO 10-3) (Algo) Assume that ACW Corporation has 2022 taxable income of $1,580,000 for purposes of computing the 179 expense. The company
10-60 (LO 10-2, LO 10-3) (Algo) Assume that ACW Corporation has 2022 taxable income of $1,580,000 for purposes of computing the 179 expense. The company acquired the following assets during 2022 (assume no bonus depreciation): (Use MACRS Table 1, Table 2 and Table 5.) Asset Placed in Service Machinery Computer equipment 12-September Basis $ 478,000 Delivery truck 10-February 21-August Qualified real property (MACRS, 15 year, 150% DB) 2-April Total 78,000 101,000 1,388,000 $ 2,045,000 a. What is the maximum amount of 179 expense ACW may deduct for 2022? b. What is the maximum total depreciation that ACW may deduct in 2022 on the assets it placed in service in 2022? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. a. Maximum 179 expense for 2022 b. Maximum total deductible depreciation for 2022
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