Question
Assume that TDW Corporation (calendar year-end) has 2021 taxable income of $684,000 for purposes of computing the 179 expense. The company acquired the following assets
Assume that TDW Corporation (calendar year-end) has 2021 taxable income of $684,000 for purposes of computing the 179 expense. The company acquired the following assets during 2021: (Use MACRS)
Asset Placed in Service. Basis
Machinery September 12 $ 2,274,250
Computer equipment February 10 268,525
Furniture April 2 887,225
Total $ 3,430,000
b. What is the maximum total depreciation, including 179 expense, that TDW may deduct in 2021 on the assets it placed in service in 2021, assuming no bonus depreciation? (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started