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Required information [The following information applies to the questions displayed below.) Assume that Timberline Corporation has 2020 taxable income of $272,000 for purposes of computing the $179 expense. It acquired the following assets in 2020: (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 $ 482,000 122,000 62,000 512,000 $1,178,000 Required: a-1. What is the maximum amount of $179 expense Timberline may deduct for 2020? a-2. What is Timberline's $179 carryforward to 2021, if any? a-1. Maximum $179 expense Maximum $179 carryforward a-2. b. What would Timberline's maximum depreciation deduction be for 2020 assuming no bonus depreciation? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Maximum Depreciation Deduction (including $179 expense) c. What would Timberline's maximum depreciation deduction be for 2020 if the machinery cost $3,820,000 instead of $512,000 and assuming no bonus depreciation? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Maximum Depreciation deduction (including $179 expense) Required information [The following information applies to the questions displayed below.) Assume that Timberline Corporation has 2020 taxable income of $272,000 for purposes of computing the $179 expense. It acquired the following assets in 2020: (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 $ 482,000 122,000 62,000 512,000 $1,178,000 Required: a-1. What is the maximum amount of $179 expense Timberline may deduct for 2020? a-2. What is Timberline's $179 carryforward to 2021, if any? a-1. Maximum $179 expense Maximum $179 carryforward a-2. b. What would Timberline's maximum depreciation deduction be for 2020 assuming no bonus depreciation? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Maximum Depreciation Deduction (including $179 expense) c. What would Timberline's maximum depreciation deduction be for 2020 if the machinery cost $3,820,000 instead of $512,000 and assuming no bonus depreciation? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Maximum Depreciation deduction (including $179 expense)