Asset cost Office furniture $ 150,000 Machinery 1 560,000 Used delivery truck* 40,000 *Not considered a luxury automobile. Date Placed in Service 02/03/2020 07/22/2020 08/17/2020 During 2020, Karane was very successful and had no $179 limitations) and decided to acquire more assets in 2021 to increase its production capacity. These are the assets acquired during 2021: Asset Computers and information system Luxury autot Assembly equipment Storage building Cost $ 400,000 80,000 1,200,000 700,000 Date Placed in Service 03/31/2021 05/26/2021 08/15/2021 11/13/2021 tUsed 100% for business purposes. Karane generated taxable income in 2021 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.) (Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.) Required: b. Compute the maximum 2021 depreciation deductions, including $179 expense (ignoring bonus depreciation & Answer is complete but not entirely correct. Description Cost Section 1179 Expense MACRS Basis Current MACRS Depreciation Total Qost Recovery Deduction 2020 Assets $ $ 0 IS 0 $ 0 150,000 1.560,000 40.000 150,000 $ 520.000 OM 0 % 0 0 40.000 0 x 0 Office furniture Machinery Used delivery truck 2021 Assets Computers and Information System Luxury Auto Assembly Equipment Storage Building Total 400 000 on OM 400.000 80.000 80.000 0 0 0 80,000 1.200.000 2 700.000 $ 4 130.000 0 OM 80.000 OS O X 0 700.000 m 0 $ 890.000 $ 0 0 $ 80.000 80.000 CO