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AMP Corporation (calendar year-end) has 2021 taxable income of $1,900,000 for purposes of computing the 5179 expense. During 2021, AMP acquired the following assets: (Use
AMP Corporation (calendar year-end) has 2021 taxable income of $1,900,000 for purposes of computing the 5179 expense. During 2021, AMP acquired the following assets: (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) Asset Placed in Service Basis Machinery September 12 - $ 1,480,000 Computer equipment February 10 460,000 Office building Total April 2 575,000 $ 2,515,000 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? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Urtice building Total April 2 575,000 $ 2,515,000 Return to question 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? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Answer is complete but not entirely correct. Maximum total depreciation (including $179 expense) $ 1,142,000 (
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