Assume that Timberline Corporation has 2019 taxable income of $278,000 for purposes of computing the $179 expense. It acquired the following assets in 2019: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Purchase Date Basis Asset Furniture (7-year) 488,000 128,000 68,000 518,000 December 1 Computer equipment (5-year) Copier (5-year) Machinery (7-year) February 28 July 15 ay 22 $1,202,000 Total Required: a-1. What is the maximum amount of $179 expense Timberline may deduct for 2019? a-2. What is Timberline's $179 carryforward to 2020, if any? -1. 179 expense $179 carryforward -2. Assume that Timberline Corporation has 2019 taxable income of $278,000 for purposes of computing the $179 expense. It acquired the following assets in 2019: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Purchase Date Basis Asset Furniture (7-year) 488,000 128,000 68,000 518,000 December 1 Computer equipment (5-year) Copier (5-year) Machinery (7-year) February 28 July 15 ay 22 $1,202,000 Total Required: a-1. What is the maximum amount of $179 expense Timberline may deduct for 2019? a-2. What is Timberline's $179 carryforward to 2020, if any? -1. 179 expense $179 carryforward -2