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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 $ 1,410,000 Computer equipment February 10 425,000 Office building April 2 540,000 Total $ 2,375,000 b. What is the maximum total depreciation, including 179 expense, that AMP may deduct in 2020 on the assets it placed in service in 2020, assuming no bonus depreciation? (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
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