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24 AMP Corporation (calendar-year-end) has 2021 taxable income of $3,900,000. During 2021, AMP acquired the following assets Asset Placed in Service Basis Machinery & Furniture

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24 AMP Corporation (calendar-year-end) has 2021 taxable income of $3,900,000. During 2021, AMP acquired the following assets Asset Placed in Service Basis Machinery & Furniture (7-Year Assets) September 12 $1.750,000 Computers & Vehicles (5-Year Assets) February 10 1,365,000 Office Building April 2 480,000 Total $3,595,000 a) What is the maximum amount of $179 expense AMP may deduct for 2021? (3 points) b) What is the maximum total depreciation, including $179 expense, that AMP may deduct in 2021 on the assets it placed in service in 2021 assuming no bonus depreciation? (2 points)

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