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Assume that ACW Corporation has 2018 taxable income of $1,000,000 for purposes of computing the 5179 expense. The company acquired the following assets during 2018
Assume that ACW Corporation has 2018 taxable income of $1,000,000 for purposes of computing the 5179 expense. The company acquired the following assets during 2018 (assume no bonus depreciation): (Use MACRS Table 1, Table 2 and Table 5.) Placed in Asset Service Basis Machinery Computer equipment Delivery truck Qualified improvement property Total September 12 February 10 August 21 April 2 $ 470,000 70,000 93,000 1,380,000 $2,013,000 a. what is the maximum amount of5179 expense ACW may deduct for 2018? b. What is the maximum total depreciation that ACW may deduct in 2018 on the assets it placed in service in 2018? (Round your intermediate computations to the nearest whole dollar amount.) a.8179 expense for 2018 b.Total deductible depreciation for 2018
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