Riverside Corporation purchased and placed in service the following assets in $2023$ : $||$

Riverside Corporation purchased no other assets during $2023,$ and its net income for

the year is $$50,000,000$ before considering cost recovery deductions. II

I

a$.$ What is the maximum tax depreciation deduction Riverside Corporation may take in

$2023,$ assuming the company elects $$179$ expense and bonus depreciation? Please

show your work and explain your calculations. $(10$ points$)$

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II

b$.$ What is Riverside Corporation's depreciation deduction in $2024($year $2)$ on the

computer asset? $($NOTE: You do not need to calculate the depreciation deduction

on the other assets placed in $2023,$ just the computers$).$ Please show your work and

explain your calculations $(3$ points$).$

$$

T$$

C$.$ What is Riverside Corporation's adjusted basis in the computers at the end of $2024$

$($year $-2)?($NOTE: You do not need to calculate the adjusted basis on the other

assets as of the end of $2023,$ just the computers$).$ Please show your work and

explain your calculations $(3$ points$).*$ T