Check my work Assume that Timberline Corporation has 2018 taxable income of $268,000 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 $ 478,000 118,000 58.000 508,000 $1,162,000 Required: a-1. What is the maximum amount of $179 expense Timberline may deduct for 2018? a-2. What is Timberline's $179 carryforward to 2019, if any? $ 268,000 a-1. a-2. $179 expense 9179 carryforward Mon Aug 12th Current Courses Check my work Assume that Timberline Corporation has 2018 taxable income of $268,000 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 $ 478,000 118,000 58,000 508,000 $1,162,000 b. What would Timberline's maximum depreciation deduction be for 2018 assuming no bonus depreciation? (Round your intermediate calculations to the nearest whole dollar amount.) Depreciation Deduction (including $179 expense) on ALP 12 Check my work Line IUIIUWIIIY II Luli appies w ure quesuunis Uisplayeu ueruw. Assume that Timberline Corporation has 2018 taxable income of $268,000 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 $ 478,000 118,000 58,000 508,000 $1,162,000 C. What would Timberline's maximum depreciation deduction be for 2018 If the machinery cost $3,280,000 instead of $508,000 and assuming no bonus depreciation? (Round your intermediate calculations to the nearest whole dollar amount.) Depreciation deduction (including $179 expense) Mon ANP 12th