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Assume that ACW Corporation has 2022 taxable Income of $1,500,000 for purposes of computing the $179 expense. The company acquired the following assets during
Assume that ACW Corporation has 2022 taxable Income of $1,500,000 for purposes of computing the $179 expense. The company acquired the following assets during 2022 (assume no bonus depreciation): (Use MACRS Table 1, Table 2 and Table 5.) Machinery Computer equipment Asset Placed in Service Basis September 12 $ 470,000 February 10 August 21 70,000 Delivery truck Qualified real property (MACRS, 15 year, 150% April 2 DB) Total 93,000 1,380,000 $ 2,013,000 a. What is the maximum amount of $179 expense ACW may deduct for 2022? b. What is the maximum total depreciation that ACW may deduct In 2022 on the assets it placed in service in 2022? Note: Round your Intermediate calculations and final answer to the nearest whole dollar amount. a. Maximum $179 expense for 2022 b. Maximum total deductible depreciation for 2022
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