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Required information Problem 10-58 (LO 10-2, LO 10-3) (Algo) [The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2022 taxable
Required information Problem 10-58 (LO 10-2, LO 10-3) (Algo) [The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2022 taxable income of $252,000 for purposes of computing the $179 expense. It acquired the following assets in 2022: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Problem 10-58 Part a (Algo) Required: a-1. What is the maximum amount of 179 expense Timberline may deduct for 2022 ? a-2. What is Timberline's 179 carryforward to 2023 , if any? b. What would Timberline's maximum depreciation deduction be for 2022 assuming no bonus depreciation? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. c. What would Timberline's maximum depreciation deduction be for 2022 if the machinery cost $3,620,000 instead of $492,000 and assuming no bonus depreciation? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount
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