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Back in Boston, Steve has been busy creating and managing his new company, Teton Mountaineering (TM), which is based out of a small town in Wyoming. In the process of doing so, TM has acquired various types of assets. Below is a list of assets acquired during 2016: Exhibit 10-8 (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Round intermediate calculations and final answer to the nearest whole dollar amount.)

Asset	Cost		Date Placed in Service
Office furniture	$	10,000	02/03/2016
Machinery		560,000	07/22/2016
Used delivery truck*		15,000	08/17/2016

* Not considered a luxury automobile, thus not subject to the luxury automobile limitations.

During 2016, TM had huge success (and had no 179 limitations) and Steve acquired more assets the next year to increase its production capacity. These are the assets acquired during 2017:

			Date Placed
Asset	Cost		in Service
Computers & info. system	$	40,000	03/31/2017
Luxury auto		80,000	05/26/2017
Assembly equipment		475,000	08/15/2017
Storage building		400,000	11/13/2017

Used 100% for business purposes.

TM generated taxable income in 2017 of $732,500 for purposes of computing the 179 expense.

e. Complete Part I of Form 4562 for part (b).

Steve Dallimore's identifying number: 361-23-8975

(Input all values as positive numbers. Use 2017 tax rules regardless of year on tax form.)

Depreciation and Amortization (Including Information on Listed Property) Form 4562 OMB No, 1545-0172 2016 Department of the Treasury - Intemal Revenue Servce Name(s) shown on return (99) See separate instructions. Attach to your tax return Attachment Sequence No. 179 ldentifying number (Enter as xxx-xx-xxxx) Business or activity to which this form relates Part I Election To Expense Certain Property Under Section 179 Note: If you have any listed property, complete Part V before you complete Part l 1 Maximum amount (see instructions) 2 Total Cost of section 179 property placed in service (see instructions) 3 Threshold cost of section 179 property before reduction in limitation (see instructions) 4 Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter -0- 5 Dollar limitation for tax year, Subtract line 4 from line 1. If zero or less, enter-0 If married filing separately, see instructions 0 b) Cost (business (c) Ele use) (a) Description of property 7 Listed property. Enter the amount from line 29 (this form) 8 Total elected cost af saction 179 proparty. Add amounts in column (c) lines 6 and 7 9 Tentative deduction. Enter the smaller of line 5 or line 8 10 Carryover of disallowed deduction from line 13 of your 2014 Form 4582 11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5 (see instructions) 12 Section 179 expense deduction. Add lines 9 and 10, but do not enter more than line 11 13 Carryover of disallowed deduction to 2016. Add lines 9 and 10, less line 12 0 10 0 For Paperwork Reduction Act Notice, see separate instructions. UYA Form 4562 (2016) THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX