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Assume that Timberline Corporation has 2022 taxable income of $284,000 for purposes of computing the 179 expense. It acquired the following assets in 2022: (Use
Assume that Timberline Corporation has 2022 taxable income of $284,000 for purposes of computing the 179 expense. It acquired the following assets in 2022: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Asset Purchase Date Basis Furniture (7-year) December 1 $ 438,000 Computer equipment (5-year) February 28 134,000 Copier (5-year) July 15 74,000 Machinery (7-year) May 22 404,000 Total $ 1,050,000 b. What would Timberline's maximum depreciation deduction be for 2022 assuming no bonus depreciation
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