In: Accounting
Assume that TDW Corporation (calendar-year-end) has 2019 taxable income of $698,000 for purposes of computing the §179 expense. The company acquired the following assets during 2019: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)
Placed in | |||
Asset | Service | Basis | |
Machinery | September 12 | $ | 2,276,000 |
Computer equipment | February 10 | 270,800 | |
Furniture | April 2 | 890,200 | |
Total | $ | 3,437,000 | |
b. What is the maximum total depreciation, including §179 expense, that TDW may deduct in 2019 on the assets it placed in service in 2019, assuming no bonus depreciation? (Round your intermediate calculations to the nearest whole dollar amount.)