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Required information [ The following information applies to the questions displayed below. ] Assume that Timberline Corporation has 2 0 2 3 taxable income of
Required information
The following information applies to the questions displayed below.
Assume that Timberline Corporation has taxable income of $ for purposes of computing the $ expense.
It acquired the following assets in : Use MACRS Table Table Table Table and Table
Required:
a What is the maximum amount of expense Timberline may deduct for
a What is Timberline's $ carryforward to if any?
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