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AMP Corporation (calendar year-end) has 2021 taxable income of $1,900,000 for purposes of computing the 179 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 179 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 $ 1,390,000 Computer equipment February 10 415,000 Office building April 2 530,000 Total $ 2,335,000 a. What is the maximum amount of 179 expense AMP may deduct for 2021? What is the Maximum total depreciation ( 179 expense)
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