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Assume that BLANK Corporation (calendar-year-end) has 2019 taxable income of $668,000 for purposes of computing the 179 expense. The company acquired the following assets during

Assume that BLANK Corporation (calendar-year-end) has 2019 taxable income of $668,000 for purposes of computing the 179 expense. The company acquired the following assets during 2019: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)

Placed in
Asset Service Basis
Machinery September 12 $ 2,272,250
Computer equipment February 10 265,925
Furniture April 2 883,825
Total $ 3,422,000

a. What is the maximum amount of 179 expense BLANK may deduct for 2019?

b. What is the maximum total depreciation, including 179 expense, that BLANK may deduct in 2019 on the assets it placed in service in 2019, assuming no bonus depreciation?

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