Woolard Inc. has taxable income in 2017 of $150,000 before any depreciation ($179, bonus, or MACRS) and acquired the following assets during the year: (Use MACRS Tables)

Placed

In

Asset Service Basis

Office Furniture March 20 $600,000

Question

b. If Woolard elects the maximum amount of $179 for the year, what is the amount of deductible $179 expense for the year? What is the total depreciation expense that Woolard's $179 carryforward amount to next year, if any?

c. Woolard is concerned about future limitations on its $179 expense. How much $179 expense should Woolard expense this year if it wants to maximize its depreciation this year and avoid carryover to future years?