Question
[The following information applies to the questions displayed below.] Assume that TDW Corporation (calendar year-end) has 2022 taxable income of $650,000 for purposes of computing
[The following information applies to the questions displayed below.]
Assume that TDW Corporation (calendar year-end) has 2022 taxable income of $650,000 for purposes of computing the 179 expense. The company acquired the following assets during 2022: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)
Asset | Placed in Service | Basis |
---|---|---|
Machinery | September 12 | $ 2,270,000 |
Computer equipment | February 10 | 263,000 |
Furniture | April 2 | 880,000 |
Total | $ 3,413,000 |
a. What is the maximum amount of 179 expense TDW may deduct for 2022?
b. What is the maximum total depreciation, including 179 expense, that TDW may deduct in 2022 on the assets it placed in service in 2022, assuming no bonus depreciation?
Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.
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