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Problem 10-58 (LO 10-2, LO 10-3) (Static) [The following information applies to the questions displayed...

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Accounting

Problem 10-58 (LO 10-2, LO 10-3) (Static) [The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2023 taxable income of $240,000 for purposes of computing the 179 expense. It acquired the following assets in 2023: (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.) Asset Furniture (7-year) Computer equipment (5-year) Copier (5-year) Machinery (7-year) Total Problem 10-58 Part b (Static) Purchase Date December 1 February 28 July 15 May 22 Basis $ 550,000 90,000 30,000 580,000 $ 1,250,000 b. What would Timberline's maximum depreciation deduction be for 2023 assuming no bonus depreciation?
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Problem 10-58 (LO 10-2, LO 10-3) (Static) [The following information applies to the questions displayed below] Assume that Timberline Corporation has 2023 taxable income of $240,000 for purposes of computing the $179 expense. It acquired the following assets in 2023: (Use MACRS Iable 1, Iable 2. Iable 3, Iable 4, and Iable 5.) Problem 10-58 Part b (Static) b. What would Timberline's maximum depreciation deduction be for 2023 assuming no bonus depreciation

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