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the 318,991 is not correct Required information [The following information applies to the questions displayed below.] AMP Corporation (calendar-year-end) has 2019 taxable income of $1,900,000
the 318,991 is not correct
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: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Placed in Service Basis Asset September 12 February 10 April 2 Machinery Computer equipment Office building $1,500,000 470,000 585,000 $2,555,000 Total b. What is the maximum total depreciation, including 179 expense, that AMP may deduct in 2019 on the assets it placed in service in 2019, assuming no bonus depreciation? (Round your intermediate calculations to the nearest whole dollar amount.) Maximum total depreciation (including 179 expense) 318,991Step by Step Solution
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