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[The following information applies to the questions displayed below.] AMP Corporation (calendar-year-end) has 2017 taxable income of $900,000 for purposes of computing the 179 expense.
[The following information applies to the questions displayed below.] AMP Corporation (calendar-year-end) has 2017 taxable income of $900,000 for purposes of computing the 179 expense. During 2017, AMP acquired the following assets: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Placed in Asset Service Basis Machinery September 12 $ 1,310,000 Computer equipment February 10 375,000 Office building April 2 490,000 Total $ 2,175,000
What is the maximum amount of 179 expense AMP may deduct for 2017?
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