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Required information [The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2023 taxable income of $240,000 for purposes of computing
Required information [The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2023 taxable income of $240,000 for purposes of computing the $179 expense. It acquired the following assets in 2023 : (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.) What would Timberline's maximum depreciation deduction be for 2023 if the machinery cost 3,500,000 instead of $580,000 and assuming no bonus depreciation? Required information [The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2023 taxable income of $240,000 for purposes of computing the $179 expense. It acquired the following assets in 2023 : (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.) What would Timberline's maximum depreciation deduction be for 2023 assuming no bonus epreciation? Required information [The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2023 taxable income of $240,000 for purposes of computing the $179 expense. It acquired the following assets in 2023 : (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.) Required: a-1. What is the maximum amount of $179 expense Timberline may deduct for 2023 ? a-2. What is Timberline's $179 carryforward to 2024 , if any
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