Assume that Timberline Corporation has 2016 taxable income of $240,000 before the §179 expense

Subject:AccountingPrice:3.87 Bought7

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Assume that Timberline Corporation has 2016 taxable income of $240,000 before the §179 expense. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Purchase Asset Date Basis Furniture (7-year) December 1 $ 350,000 Computer equipment (5-year) February 28 90,000 Copier (5-year) July 15 30,000 Machinery (7-year) May 22 480,000 Total $ 950,000 4. value: 10.00 points Required information

a-1. What is the maximum amount of §179 expense Timberline may deduct for 2016? a-2. What is Timberline’s §179 carryforward to 2017, if any?

b. What would Timberline’s maximum depreciation expense be for 2016 assuming no bonus depreciation?

depresiation expense including (&179 expense)

c, What would Timberline’s maximum depreciation expense be for 2016 if the furniture cost $2,000,000 instead of $350,000 and assuming no bonus depreciation?

depresiation expense including (&179 expense) ?