In: Accounting
Reid acquired two assets in 2017: computer equipment (5-year property) acquired on August 6th with a basis of $510,000 and machinery (7-year property) on November 9th with a basis of $510,000. Assume that Reid has sufficient income to avoid any limitations. Calculate the maximum depreciation expense including §179 expensing (but not bonus expensing). 1-Section 179 expense? 2-Depreciation on computer? 3-Depreciation on machinery? 4-Total maximum depreciation expense including §179 expense?