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Required information [The following information applies to the questions displayed below.] AMP Corporation (calendar-year-end) has 2019 taxable income of $1,900,000 for purposes of computing the

Required information

[The following information applies to the questions displayed below.]

AMP Corporation (calendar-year-end) has 2019 taxable income of $1,900,000 for purposes of computing the 179 expense. During 2019, AMP acquired the following assets:

Placed in
Asset Service Basis
Machinery September 12 $ 1,550,000
Computer equipment February 10 365,000
Office building April 2 480,000
Total $ 2,395,000

a. What is the maximum amount of 179 expense AMP may deduct for 2019?

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