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Assume that ACW Corporation has 2019 taxable income of $1,500,000 for purposes of computing the 179 expense. The company acquired the following assets during 2019

Assume that ACW Corporation has 2019 taxable income of $1,500,000 for purposes of computing the 179 expense. The company acquired the following assets during 2019 (assume no bonus depreciation): (Use MACRS Table 1, Table 2 and Table 5.)

Asset Placed in Service Basis
Machinery September 12 $ 470,000
Computer equipment February 10 70,000
Delivery truck August 21 93,000
Qualified improvement property April 2 1,380,000
Total $ 2,013,000

  1. What is the maximum amount of 179 expense ACW may deduct for 2019?
  2. What is the maximum total depreciation that ACW may deduct in 2019 on the assets it placed in service in 2019? (Round your intermediate computations to the nearest whole dollar amount.)

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