The following information applies to the questions displayed below Assume that Timberline Corporation has 2020 taxable income of $248,000 for purposes of computing the 179 expense It acquired the following assets in 2020 (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5 ) Purchase Asset Date Basis Furniture (7 year) December 1 $ 458,000 Computer equipment (5 year) February 28 98,000 Copier (5 year) July 15 38,000 Machinery (7 year) May 22 488,000 Total $ 1,082,000 Required a 1 What is the maximum amount of 179 expense Timberline may deduct for 2020 a 2 What is Timberlines 179 carryforward to 2021, if any a 1 Maximum 179 expense a 2 Maximum 179 carryforward b What would Timberlines maximum depreciation deduction be for 2020 assuming no bonus depreciation (Round your intermediate calculations and final answer to the nearest whole dollar amount ) c What would Timberlines maximum depreciation deduction be for 2020 if the machinery cost $3,580,000 instead of $488,000 and assuming no bonus depreciation (Round your intermediate calculations and final answer to the nearest whole dollar amount )

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The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2020 taxable income of $248,000 for purposes of computing the 179

The following information applies to the questions displayed below.]

Assume that Timberline Corporation has 2020 taxable income of $248,000 for purposes of computing the 179 expense. It acquired the following assets in 2020: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)

	Purchase
Asset	Date		Basis
Furniture (7-year)	December 1	$	458,000
Computer equipment (5-year)	February 28		98,000
Copier (5-year)	July 15		38,000
Machinery (7-year)	May 22		488,000
Total		$	1,082,000

Required:

a-1. What is the maximum amount of 179 expense Timberline may deduct for 2020?
a-2. What is Timberlines 179 carryforward to 2021, if any?

a-1. Maximum 179 expense

a-2. Maximum 179 carryforward

b. What would Timberlines maximum depreciation deduction be for 2020 assuming no bonus depreciation? (Round your intermediate calculations and final answer to the nearest whole dollar amount.)

c. What would Timberlines maximum depreciation deduction be for 2020 if the machinery cost $3,580,000 instead of $488,000 and assuming no bonus depreciation? (Round your intermediate calculations and final answer to the nearest whole dollar amount.)