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Please include Details to help me understand. Thanks Assume that TDW Corporation (calendar-year-end) has 2020 taxable income of $650,000 for purposes of computing the $179
Please include Details to help me understand. Thanks
Assume that TDW Corporation (calendar-year-end) has 2020 taxable income of $650,000 for purposes of computing the $179 expense. The company acquired the following assets during 2020: (Use MACRS Table 1, Table 2, Table 3. Table 4 and Table 5.) Asset Machinery Computer equipment Furniture Total Placed in Service September 12 February 10 April 2 Basis $ 2,270,000 263,000 880,000 $ 3,413,000 Problem 10-57 Part b (Static) b. What is the maximum total depreciation, including $179 expense, that TDW may deduct in 2020 on the assets it placed in service in 2020, assuming no bonus depreciation? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) X Answer is complete but not entirely correct. Maximum total depreciation deduction (including $179 $ expense) 810,593Step by Step Solution
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