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Assume that ACW Corporation has 2022 taxable income of $1,900,000 for purposes of computing the $179 expense. The company acquired the following assets during
Assume that ACW Corporation has 2022 taxable income of $1,900,000 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 Placed in Service 12-September Basis $510,000 Computer equipment 10-February Delivery truck 21-August Qualified real property (MACRS, 15 year, 150% DB) 2-April 110,000 133,000 1,420,000 $ 2,173,000 Total a. What is the maximum amount of 5179 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. Answer is complete but not entirely correct. a. Maximum $179 expense for 2022 1,040,000 b. Maximum total deductible depreciation for 2022 $ 1,194,610
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