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Required information [The following information applies to the questions displayed below.] AMP Corporation (calendar year-end) has 2022 taxable income of $1,900,000 for purposes of computing
Required information [The following information applies to the questions displayed below.] AMP Corporation (calendar year-end) has 2022 taxable income of $1,900,000 for purposes of computing the $179 expense. During 2022, AMP acquired the following assets: (Use MACRS Table 1. Table 2, Table 3 , Table 4 and Table 5 .) a. What is the maximum amount of 179 expense AMP may deduct for 2022? b. What is the maximum total depreciation, including $179 expense, that AMP may deduct in 2022 on the assets it placed in service in 2022 , assuming no bonus depreciation? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Required information [The following information applies to the questions displayed below.] AMP Corporation (calendar year-end) has 2022 taxable income of $1,900,000 for purposes of computing the $179 expense. During 2022, AMP acquired the following assets: (Use MACRS Table 1. Table 2, Table 3 , Table 4 and Table 5 .) a. What is the maximum amount of 179 expense AMP may deduct for 2022? b. What is the maximum total depreciation, including $179 expense, that AMP may deduct in 2022 on the assets it placed in service in 2022 , assuming no bonus depreciation? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount
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