Required information [The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2018 taxable income of $248,000 for purposes of computing the $179 expense. It acquired the following assets in 2018: (Use MACRS Table 1. Table 2. Table 3, Table 4 and Table 5.) Purchase Asset Furniture (7-year) Computer equipment (5-year) Copier (5-year) Machinery (7-year) Total Date December 1 February 28 July 15 May 22 Basis $ 458,000 98,000 38,000 488,000 $ 1,082,000 Required: a-1. What is the maximum amount of $179 expense Timberline may deduct for 2018? a-2. What is Timberline's $179 carryforward to 2019, if any? Answer is complete but not entirely correct. a-1 $ 248,000 $179 expense $179 carryforward a-2 $ 374,944 X ! Required information (The following information applies to the questions displayed below.) Assume that Timberline Corporation has 2018 taxable income of $248,000 for purposes of computing the $179 expense. It acquired the following assets in 2018: (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 Basis 458,000 98,000 38,000 488,000 $ 1,082,000 May 22 c. What would Timberline's maximum depreciation deduction be for 2018 if the machinery cost $3,080,000 instead of $488,000 and assuming no bonus depreciation? (Round your intermediate calculations to the nearest whole dollar amount.) Depreciation deduction (including $179 expense)