Required information

Problem 10-56 (LO 10-2, LO 10-3)

[The following information applies to the questions displayed below.]

AMP Corporation (calendar-year-end) has 2019 taxable income of $1,900,000 for purposes of computing the 179 expense. During 2019, AMP acquired the following assets: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)

	Placed in
Asset	Service		Basis
Machinery	September 12	$	1,420,000
Computer equipment	February 10		430,000
Office building	April 2		545,000
Total		$	2,395,000

Problem 10-56 Part a

a. What is the maximum amount of 179 expense AMP may deduct for 2019?

b. What is the maximum total depreciation, including 179 expense, that AMP may deduct in 2019 on the assets it placed in service in 2019, assuming no bonus depreciation? (Round your intermediate calculations to the nearest whole dollar amount.)