Question
AMP Corporation (calendar-year-end) has 2019 taxable income of $1,900,000 for purposes of computing the 179 expense. During 2019, AMP acquired the following assets: (UseMACRSTable 1,Table
AMP Corporation (calendar-year-end) has 2019 taxable income of $1,900,000 for purposes of computing the 179 expense. During 2019, AMP acquired the following assets: (UseMACRSTable 1,Table 2,Table 3,Table 4andTable 5.)
Placed inAssetServiceBasisMachinerySeptember 12$1,430,000Computer equipmentFebruary 10435,000Office buildingApril 2550,000Total$2,415,000
b.What is the maximum total depreciation, including 179 expense, that AMP may deduct in 2019 on the assets it placed in service in 2019, assuming no bonus depreciation?(Round your intermediate calculations to the nearest whole dollar amount.)
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