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AMP Corporation (calendar-year-end) has 2023 taxable income of $1,900,000 for purposes of computing the 179...

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Accounting

AMP Corporation (calendar-year-end) has 2023 taxable income of $1,900,000 for purposes of computing the 179 expense. During 2023, AMP acquired the following assets: (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.)
Asset Placed in Service Basis
Machinery September 12 $ 1,440,000
Computer equipment February 10440,000
Office building April 2555,000
Total $ 2,435,000
a. What is the maximum amount of 179 expense AMP may deduct for 2023? b. What is the maximum total depreciation, including 179 expense, that AMP may deduct in 2023 on the assets it placed in service in 2023, assuming no bonus depreciation?

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