AMP Corporation (calendar-year-end) has 2016 taxable income

AMP Corporation (calendar-year-end) has 2016 taxable income

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Question # 00552944 Subject Accounting Topic Accounting Tutorials: 1
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AMP Corporation (calendar-year-end) has 2016 taxable income of $900,000 before the ยง179 expense. During 2016, AMP acquired the following assets: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)

Placed in

Asset Service Basis

Machinery September 12 $ 1,550,000

Computer equipment February 10 365,000

Office building April 2 480,000

Total $2,395,000

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  1. AMP Corporation (calendar-year-end) has 2016 taxable income

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