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Problem 10-56(LO 10-2, LO 10-3)(Algo) [The following information applies to the questions displayed...

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Accounting

Problem 10-56(LO 10-2, LO 10-3)(Algo)
[The following information applies to the questions displayed below.]
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.)
\table[[,Placed in],[,Service,Basis,],[Machinery,September 12,$1,480,000,],[Computer equipment,February 10,460,000,],[Office building,April 2,575,000,],[Total,,$2,515,000,]]
Problem 10-56 Part a (Algo)
a. What is the maximum amount of $179 expense AMP may deduct for 2023?
Maximum $179 expense deductible
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