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AMP Corporation (calendar year-end) has 2022 taxable income of $1,900,000 for purposes of computing the 179 expense. During 2022, AMP acquired the following assets: (Use

AMP Corporation (calendar year-end) has 2022 taxable income of $1,900,000 for purposes of computing the 179 expense. During 2022, 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

$ 1,470,000

Computer equipment

February 10

455,000

Office building

April 2

570,000

Total

$ 2,495,000

a. What is the maximum amount of 179 expense AMP may deduct for 2022?

Maximum 179 expense deductible =

b. What is the maximum total depreciation, including 179 expense, that AMP may deduct in 2022 on the assets it placed in service in 2022, assuming no bonus depreciation?

Maximum total depreciation (including 179 expense) =

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