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! Required information [The following information applies to the questions displayed below.] Assume that Timberline...

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Accounting

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! Required information [The following information applies to the questions displayed below.] Assume that Timberline Corporation has 2020 taxable income of $240,000 for purposes of computing the $179 expense. It acquired the following assets in 2020: (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 Purchase Date December 1 February 28 July 15 May 22 Basis $ 450,000 90,000 30,000 480,000 $ 1,050,000 c. What would Timberline's maximum depreciation deduction be for 2020 if the machinery cost $3,500,000 instead of $480,000 and assuming no bonus depreciation? Maximum Depreciation deduction (including $179 expense)

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