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arane 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

arane 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:

Asset Cost Date Placed in Service
Office furniture $ 150,000 02/03/2022
Machinery 1,560,000 07/22/2022
Used delivery truck*Note: 40,000 08/17/2022

*Note:Not considered a luxury automobile.

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:

Asset Cost Date Placed in Service
Computers and information system $ 400,000 03/31/2023
Luxury auto*Note: 80,000 05/26/2023
Assembly equipment 1,200,000 08/15/2023
Storage building 700,000 11/13/2023

*Note: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.)

Compute the maximum 2023 depreciation deductions, including 179 expense (ignoring bonus depreciation).

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