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Required information [The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2023 taxable income of $240,000 for purposes of computing

image text in transcribed Required information [The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2023 taxable income of $240,000 for purposes of computing the $179 expense. It acquired the following assets in 2023: (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 2023 ? a-2. What is Timberline's $179 carryforward to 2024 , if any? Required information [The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2023 taxable income of $240,000 for purposes of computing the $179 expense. It acquired the following assets in 2023: (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 2023 ? a-2. What is Timberline's $179 carryforward to 2024 , if any

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