! Required information (The following information applies to the questions displayed below.) Assume that Timberline Corporation has 2020 taxable income of $266,000 for purposes of computing the $179 expense. It acquired the following assets in 2020: (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) Purchase Asset Date Basis Furniture (7-year) December 1 476,000 Computer equipment (5-year) February 28 116,000 Copier (5-year) July 15 56,000 Machinery (7-year) 506, eee Total $1,154,000 May 22 Required: a-1. What is the maximum amount of $179 expense Timberline may deduct for 2020? a-2. What is Timberline's $179 carryforward to 2021, if any? Maximum 5179 expense Maximum 5179 carryforward 3-2