Solution-What is the maximum total depreciation expense

What is the maximum total depreciation expense that acw

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Reference no: EM131773234

Good day,

I need help with the below problem. Please answer A and B. No need to put in any particular area; please just provide both answers.

Assume that ACW Corporation has 2014 taxable income of $1,000,000 before the §179 expense and acquired the following assets during 2014 (assume no bonus depreciation): (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)

Asset	Placed in Service	Basis
Machinery	September 12	$	470,000
Computer equipment	February 10		70,000
Delivery truck	August 21		93,000
Qualified leasehold improvements	April 2		380,000

Total		$	1,013,000

a. What is the maximum amount of §179 expense ACW may deduct for 2014?

b. What is the maximum total depreciation expense that ACW may deduct in 2014 on the assets it placed in service in 2014? (Round your answer to the nearest whole dollar amount.)

Reference no: EM131773234

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What is the maximum total depreciation expense that acw

Reference no: EM131773234

Reference no: EM131773234

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