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Required information [The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2022 taxable income of $268,000 for purposes of computing
Required information [The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2022 taxable income of $268,000 for purposes of computing the 179 expense. It acquired the following assets in 2022: (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 2022? a-2. What is Timberline's 179 carryforward to 2023 , if any
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