Problem 10-56 (LO 10-2, LO 10-3) (Static) Skip to question [The following information applies to the questions displayed below.] AMP Corporation (calendar-year-end) has 2020 taxable income of $1,900,000 for purposes of computing the 179 expense. During 2020, 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

Problem 10-56 Part a (Static)

a. What is the maximum amount of 179 expense AMP may deduct for 2020?

b. What is the maximum total depreciation, including 179 expense, that AMP may deduct in 2020 on the assets it placed in service in 2020, assuming no bonus depreciation? (Round your intermediate calculations and final answer to the nearest whole dollar amount.)

Problem 10-56 Part a (Static)

a. What is the maximum amount of 179 expense AMP may deduct for 2020?