5 Required information [The following information applies to the questions displayed below.] Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2021. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2021: Date Placed in Cost Service Office furniture$ 150,000 Asset Machinery Used delivery truck* 02/03/2021 1,560,000 07/22/2021 40,000 08/17/2021 "Not considered a luxury automobile. During 2021, Karane was very successful (and had no 179 limitations) and decided to acquire more assets in 2022 to increase its production capacity. These are the assets acquired during 2022: Asset Computers and information system Luxury auto Assembly equipment Storage building Cost Date Placed in Service $ 400,000 03/31/2022 80,000 05/26/2022 1,200,000 08/15/2022 700,000 11/13/2022 *Used 100% for business purposes. Karane generated taxable income in 2022 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: Compute the maximum 2021 depreciation deductions, including $179 expense (ignoring bonus depreciation). Total Cost Current Description Cost $179 MACRS Expense Basis MACRS Recovery Depreciation Deduction Office furniture $150,000 $ Machinery 1,560,000 Used delivery truck 40,000 0 $150,000 $ 40,000 21,435 $ 21,435 0 8,000 8,000 $ Total $ 1,750,000 0 $190,000 $ 29,435 $29,435