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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.) \begin{tabular}{llr} & \multicolumn{1}{c}{ Placed in } & \\ & \multicolumn{1}{c}{ Service } & \multicolumn{1}{c}{ Basis } \\ \hline \multicolumn{1}{c}{ Asset } & September 12 & $1,500,000 \\ Machinery & February 10 & 470,000 \\ Computer equipment & April 2 & 585,000 \\ \hline Office building & & $2,555,000 \\ \hline Total & & \end{tabular} 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. Maximum total depreciation (including 179 expense)
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