1 2 3 4 5 (HINT: Use the MIN Function for Maximum 179 after T.I. limit) (HINT: Only one cell's formula will be different between the two scenarios) 6 7 8 9 Taxable Income 10 Machinery Placed In Service 11 179 Threshold 12 Phase-out of max 179 13 Maximum 179 before phase-out 14 Maximum 179 after phase-out 15 Elected 179 16 Basis after 179 DR.E.Brown Enterprises offers 24 hour scientific services and is in need of new equipment. Complete the following table using formulas to consider applicable consider what the maximum Elected 179 could be without creating a carryforward. 17 MACRS Depreciation Rate Year 1 18 MACRS Depreciation Year 1 19 179 Taxable Income Limit 20 Maximum 179 after T.I. limit 21 Excess 179 carried forward 22 Total Depreciation Year 1 23 Remaining Basis 24 <> = Maximum 179 lo 179 Carryforward 1,100,000 1,100,000 2,500,000 2,500,000 2,890,000 2,890,000 Workbook Statistics P Graded Worksheet + 1,160,000 14.29% 1,160,000 D 14.29% E F G H