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Required information The following information applies to the questions displayed below. AMP Corporation (calendar-year-end) has 2018 taxable income of $1,000,000 for purposes of computing the
Required information The following information applies to the questions displayed below. AMP Corporation (calendar-year-end) has 2018 taxable income of $1,000,000 for purposes of computing the 5179 expense. During 2018, AMP acquired the following assets: (Use MACRS Table 1. Table 2. Table 3, Table 4 and Table 5,) Placed in Service Asset Basis Machinery Computer equipmentFebruary 1 Office building Total September 12 1,550,000 365,000 480,000 April 2 $ 2,395,000 b, what is the maximum total depreciation, including 179 expense, that AMP may deduct in 2018 on the assets it placed in service in 2018 assuming no bonus depreciation? (Round your intermediate calculations to the nearest whole dollar amount.)
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