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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 $ 1,490,000 Computer equipment February 10 465,000 Office building April 2 580,000 Total $ 2,535,000
b. What is the maximum total depreciation, including 179 expense, that AMP may deduct in 2022on the assets it placed in service in 2022, assuming no bonus depreciation?
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