CARES Problem 10-60 (LO 10-2, LO 10-3) (Algo) Assume that ACW Corporation has 2020 taxable income of $1,800,000 for purposes of computing the $179 expense. The company acquired the following assets during 2020 Assume CARES Act applies. (assume no bonus depreciation): (Use MACRS Table 1, Table 2, and Table 5). Placed in Service 12-Sep 10-Feb Asset Machinery Computer equipment Delivery truck Qualified improvement property Total 21-Aug 2-Apr Basis $ 500,000 100,000 123,000 1,410,000 $2,133,000 a. What is the maximum amount of $179 expense ACW may deduct for 2020? b. What is the maximum total depreciation that ACW may deduct in 2020 on the assets it placed in service in 2020? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Answer is complete but not entirely correct. a. $ Maximum $179 expense for 2020 Maximum total deductible depreciation for 2020 1,040,000 1,162,780 b. $