10-3: Assessment Problems 3 Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2022. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2022: Cost Date Placed in Service 6 Part 3 of 5 Asset Office furniture Machinery Used delivery truck* $ 150,000 1,560,000 40,000 02/03/2022 07/22/2022 08/17/2022 points *Not considered a luxury automobile. eBook During 2022, Karane was very successful (and had no 179 limitations) and decided to acquire more assets in 2023 to Increase its production capacity. These are the assets acquired during 2023: Date Placed in Service Asset Print Computers and information system Luxury auto Cost $ 400,000 03/31/2023 Assembly equipment Storage building 80,000 1,200,000 700,000 05/26/2023 08/15/2023 11/13/2023 References *Used 100% for business purposes. Karane generated taxable Income in 2023 of $1,732,500 for purposes of computing the $179 expense limitation. (Use MACRS Table 1, Table 2, Table 3, Table 4, Table 5, and Exhibit 10-10.) Note: Leave no answer blank. Enter zero If applicable. Input all the values as positive numbers. Required: c. Compute the maximum 2023 depreciation deductions, Including 179 expense, but now assume that Karane would like to take bonus depreciation. Note: Round your final answers to nearest whole dollar. Description Cost Section 179 Expense Bonus MACRS Basis Current MACRS Depreciation Total Cost Recovery Deduction 2022 Assets Office Furniture Machinery Used Delivery Truck $ 150,000 $ 0 $ 0 $ 150,000 $ 38,735 $ 38,735 1,560,000 0 0 0 40,000 0 0 40,000 12,800 12,800 2023 Assets Computers and Information System 400,000 0 0 Luxury Auto 80,000 0 8,000 72,000 8,000 Assembly Equipment 1,200,000 0 Storage Building Total $ 700,000 4,130,000 0 0 $ 0 $ 8,000 $ 700,000 962,000 $ 2,247 51,782 $ 2,247 59,782 Saved