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Problem 2-60 (LO 2-2, LO 2-3) (Algo) Assume that ACW Corporation has 2022 taxable income of $1,740,000 for purposes of computing the 5179 expense.
Problem 2-60 (LO 2-2, LO 2-3) (Algo) Assume that ACW Corporation has 2022 taxable income of $1,740,000 for purposes of computing the 5179 expense. The company acquired the following assets during 2022 (assume no bonus depreciation): (Use MACRS Table 1. Table 2 and Table 5) Asset Machinery Computer equipment Placed in Service 12-September Basis $ 494,000 10-February 21-August Delivery truck Qualified real property (MACRS, 15 year, 2-April 150% DB) Total 94,000 117,000 1,404,000 $ 2,109,000 a. What is the maximum amount of $179 expense ACW may deduct for 2022? b. What is the maximum total depreciation that ACW may deduct in 2022 on the assets it placed in service in 2022? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. a Maximum 5179 expense for 2022 b. Maximum total deductible depreciation for 2022
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