Problem $1(6$ Points$)$ ABC Co$.$ has acquired various types of assets recently. Below is a list of assets acquired between $2020$ and $2023.$ ABC elected out of $179$ expense in all years. ABC elected out of bonus depreciation in $2022$ and $2023$ but took bonus depreciation in $2020$ and $2021.$ Calculate ABC's depreciation expense for $2023,$ rounded to the nearest whole dollar.

First, determine the company's convention, life, and current year of depreciation for each asset $($e$.$g$.,$ convention $=$ half$-$year $($HY$),$ mid$-$quarter $($MQ$),$ or mid$-$month $($MM$),$ life $=5-$year, $7-$year, etc., and year is what year of depreciation $2023$ is for the asset $($i$.$e$.,1^{st}$ year, $2^{nd}$ year, etc.$))$:

$\backslash$table$[[$Asset$,$Cost Basis,$\backslash$table$[[$Date Placed in$],[$Service$]],\backslash$table$[[$Convention$],[$and Life$]],$Year$],[$Warehouse$,$$$800,000,$May $1,2020,,],[$Machinery$,250,000,$December $24,2020,,],[$Computers$,18,000,$January $10,2021,,],[$Office Furniture $(1),90,000,$June $15,2022,,],[$Office Building,$560,000,$April $15,2023,,],[$Office Furniture $(2),280,000,$December $15,2023,,]]$

Second, complete the schedule below to compute the $2023$ depreciation expense for each asset $($remember $2020(2023)$ bonus depreciation rate is $100\%(80\%))$:

$\backslash$table$[[$Asset$,\backslash$table$[[$Cost$],[$Basis$]],\backslash$table$[[$Less $179$ or$],[$Bonus$]],\backslash$table$[[$Remaining$],[$Basis$]],\backslash$table$[[$MACRS$],[$Rate$]],\backslash$table$[[$MACRS$],[$Deprec$.],[$Exp$]]],[$Warehouse$,$$$800,000,,,,],[$Machinery$,250,000,,,,],[$Computers$,18,000,,,,],[$Office Furniture $(1),90,000,,,,],[$Office Building,$560,000,,,,],[$Office Furniture $(2),280,000,,,,]]$

Third, compute total $2023$ depreciation expense, including any bonus depreciation: