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Assume that ACW Corporation has 2019 taxable income of $1,620,000 for purposes of computing the 179 expense. The company acquired the following assets during 2019
Assume that ACW Corporation has 2019 taxable income of $1,620,000 for purposes of computing the 179 expense. The company acquired the following assets during 2019 (assume no bonus depreciation): (Use MACRSTable 1,Table 2, andTable 5).
AssetPlaced in ServiceBasisMachinery12-Sep$482,000Computer equipment10-Feb82,000Delivery truck21-Aug105,000Qualified improvement property2-Apr1,392,000Total$2,061,000
- What is the maximum amount of 179 expense ACW may deduct for 2019?
- What is the maximumtotaldepreciation 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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