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AMP Corporation (calendar-year-end) has 2018 taxable income of $900,000 for purposes of computing the 179 expense. During 2018, AMP acquired the following assets: Asset Placed

AMP Corporation (calendar-year-end) has 2018 taxable income of $900,000 for purposes of computing the 179 expense. During 2018, AMP acquired the following assets: Asset Placed in Service Basis Machinery September 12 $1,550,000 Computer equipment February 10 365,000 Office building April 2 480,000 Total $2,395,000 What is the maximum amount of 179 expense AMP may deduct for 2018? What is the maximum total depreciation including 179 expense, that AMP may deduct in 2018 on the assets it placed in service in 2018 assuming no bonus depreciation?

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