Required information [The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2020 taxable income of $278,000 for purposes of computing the $179 expense. It acquired the following assets in 2020: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Asset Furniture (7-year) Computer equipment (5-year) Copier (5-year) Machinery (7-year) Total Purchase Date December 1 February 28 July 15 May 22 Basis $ 488,000 128,000 68,000 518,000 $ 1,202,000 Required: a-1. What is the maximum amount of $179 expense Timberline may deduct for 2020? a-2. What is Timberline's $179 carryforward to 2021, if any? a-1. Maximum $179 expense Maximum $179 carryforward a-2