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Question: amp corporation calendaryearend has 2018 taxable income of 1000000 for...

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AMP Corporation (calendar-year-end) has 2018 taxable income of $1,000,000 for purposes of computing the §179 expense. During 2018, AMP acquired the following assets: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)

Placed in
Asset Service Basis
Machinery September 12 $ 1,550,000
Computer equipment February 10 $ 365,000
Office building April 2 $ 480,000
Total $ 2,395,000

b. What is the maximum total depreciation, including §179 expense, that AMP may deduct in 2018 on the assets it placed in service in 2018 assuming no bonus depreciation?

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