Question
[The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2019 taxable income of $240,000 for purposes of computing the 179
[The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2019 taxable income of $240,000 for purposes of computing the 179 expense. It acquired the following assets in 2019: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Purchase Asset Date Basis Furniture (7-year) December 1 $ 450,000 Computer equipment (5-year) February 28 90,000 Copier (5-year) July 15 30,000 Machinery (7-year) May 22 480,000 Total $ 1,050,000 c. What would Timberlines maximum depreciation deduction be for 2019 if the machinery cost $3,000,000 instead of $480,000 and assuming no bonus depreciation?
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