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Problem 02-60 (LO 02-2, LO 02-3) (Algo) Assume that ACW Corporation has 2023 taxable income of $1,860,000 for purposes of computing the $179 expense.
Problem 02-60 (LO 02-2, LO 02-3) (Algo) Assume that ACW Corporation has 2023 taxable income of $1,860,000 for purposes of computing the $179 expense. The company acquired the following assets during 2023 (assume no bonus depreciation): (Use MACRS Table 1, Table 2, and Table 5.) Asset Placed in Service 12-September Basis $ 506,000 Machinery Computer equipment 10-February Delivery truck 21-August Qualified real property (MACRS, 15 year, 150% DB) 02-April Total 106,000 129,000 1,416,000 $ 2,157,000 a. What is the maximum amount of $179 expense ACW may deduct for 2023? b. What is the maximum total depreciation that ACW may deduct in 2023 on the assets it placed in service in 2023? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. a. Maximum $179 expense for 2023 b. Maximum total deductible depreciation for 2023
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