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Assume that Timberline Corporation has 2018 taxable income of $276,000 for purposes of computing the $179 expense. It acquired the following assets in 2018: (Use
Assume that Timberline Corporation has 2018 taxable income of $276,000 for purposes of computing the $179 expense. It acquired the following assets in 2018: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Asset Furniture (7-year) Computer equipment (5-year) Copier (5-year) Machinery (7-year) Total Purchase Date December 1 February 28 July 15 May 22 Basis $ 486,000 126,000 66,000 516,000 $1,194,000 c. What would Timberline's maximum depreciation deduction be for 2018 if the machinery cost $3,360,000 instead of $516,000 and assuming no bonus depreciation? (Round your intermediate calculations to the nearest whole dollar amount.) Depreciation deduction (including $179 expense)
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