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Required information [The following information applies to the questions displayed below.) Assume that Timberline Corporation has 2021 taxable income of $272,000 for purposes of computing
Required information [The following information applies to the questions displayed below.) Assume that Timberline Corporation has 2021 taxable income of $272,000 for purposes of computing the $179 expense. It acquired the following assets in 2021: (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 $ 426,000 122,000 62,000 440,000 $ 1,050,000 c. What would Timberline's maximum depreciation deduction be for 2021 if the machinery cost $3,820,000 instead of $440,000 and assuming no bonus depreciation? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Maximum Depreciation Deduction (including $179 expense)
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