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Assume that ACW Corporation has 2022 taxable income of $1,840,000 for purposes of computing the $179 expense. The company acquired the following assets during
Assume that ACW Corporation has 2022 taxable income of $1,840,000 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.) Asset Machinery Computer equipment 10-February Delivery truck 21-August Placed in Service 12-September Basis $ 504,000 104,000 127,000 Qualified real property (MACRS, 15 year, 2-April 150% DB) Total 1,414,000 $ 2,149,000 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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