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AMP Corporation (calendar-year-end) has 2020 taxable income of $1,900,000 for purposes of computing the 179 expense. During 2020, AMP acquired the following assets: (Use MACRS

AMP Corporation (calendar-year-end) has 2020 taxable income of $1,900,000 for purposes of computing the 179 expense. During 2020, AMP acquired the following assets: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)

Placed in
Asset Service Basis
Machinery September 12 $ 1,550,000
Computer equipment February 10 365,000
Office building April 2 480,000
Total $ 2,395,000

a. What is the maximum amount of 179 expense AMP may deduct for 2020?

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