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Problem 1 0 - 5 8 ( LO 1 0 - 2 , LO 1 0 - 3 ) ( Algo ) [ The following

Problem 10-58(LO 10-2, LO 10-3)(Algo)
[The following information applies to the questions displayed below.]
Assume that Timberline Corporation has 2023 taxable income of $266,000 for purposes of computing the $179 expense. It acquired the following assets in 2023: (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.)
\table[[Asset,Purchase Date,Basis],[Furniture (7-year),December 1,$520,000
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