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Assume that ACW Corporation has 2022 taxable income of $1,680,000 for purposes of computing the 179 expense.. The company acquired the following assets during 2022
Assume that ACW Corporation has 2022 taxable income of $1,680,000 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:) 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? Vote: Round your intermediate calculations and final answer to the nearest whole dollar amount. TABLE 2b MACRS Mid-Quarter Convention: For property placed in service during the second quarter TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during the third quarter TABLE 2d MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter Table 1 MACRS Half-Year Convention TABLE 5 Nonresidential Real Property Mid-Month Convention Straight Line-39 Years (for assets placed in service on or after May 13, 1993)
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