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Assume that TDW Corporation (calendar-year-end) has 2020 taxable income of $654,000 for purposes of computing the $179 expense. The company acquired the following assets during
Assume that TDW Corporation (calendar-year-end) has 2020 taxable income of $654,000 for purposes of computing the $179 expense. The company acquired the following assets during 2020: (Use MACRS Table 1, Table 2. Table 3, Table 4 and Table 5.) Asset Machinery Computer equipment Furniture Total Placed in Service September 12 February 10 April 2 Basis $2,270,500 263,650 880,850 $3,415,000 Problem 10-57 Part a (Algo) a. What is the maximum amount of $179 expense TDW may deduct for 2020? Answer is complete and correct. Maximum $179 expense deductible $ 215,000 Assume that TDW Corporation (calendar-year-end) has 2020 taxable income of $654,000 for purposes of computing the $179 expense. The company acquired the following assets during 2020: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Asset Machinery Computer equipment Furniture Total Placed in Service Basis September 12 $2,270,500 February 10 263, 650 April 2 880,850 $3,415,000 Problem 10-57 Part b (Algo) b. What is the maximum total depreciation, including $179 expense, that TDW may deduct in 2020 on the assets it placed in service in 2020, assuming no bonus depreciation? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Maximum total depreciation deduction (including $179 expense)
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