Question
Required information [The following information applies to the questions displayed below.] AMP Corporation (calendar-year-end) has 2017 taxable income of $900,000 for purposes of computing the
Required information
[The following information applies to the questions displayed below.]
AMP Corporation (calendar-year-end) has 2017 taxable income of $900,000 for purposes of computing the 179 expense. During 2017, AMP acquired the following assets: (UseMACRSTable 1,Table 2,Table 3,Table 4andTable 5.)
Placed inAssetServiceBasisMachinerySeptember 12$1,360,000Computer equipmentFebruary 10400,000Office buildingApril 2515,000Total$2,275,000
b.What is the maximum total depreciation expense, including 179 expense, that AMP may deduct in 2017 on the assets it placed in service in 2017 assuming no bonus depreciation?(Round your answer to the nearest whole dollar amount.)
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