Comprehensive Problem $10-76($LO $10-1,$ LO $10-2,$ LO $10-3,$ LO $10-4,$ LO $10-5)($Algo$)$

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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 $2022$:

Asset Cost Date Placed in Service

Office furniture $ $370,00002/03/2022$

Machinery $1,780,00007/22/2022$

Used delivery truck$*$Note: $84,00008/17/2022$

$*$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 $ $444,00003/31/2023$

Luxury auto$*$Note: $91,00005/26/2023$

Assembly equipment $1,420,00008/15/2023$

Storage building $800,00011/13/2023$

$*$Note:Used $100\%$ for business purposes.

Karane generated taxable income in $2023$ of $$1,787,500$ 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.

Comprehensive Problem $10-76$ Part a $($Algo$)$

Required:

Compute the maximum $2022$ depreciation deductions, including $179$ expense $($ignoring bonus depreciation$).$

Note: Apply the $179$ deduction to the most expensive eligible asset first. Round your final answers to nearest whole dollar.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 $2022$:

$*$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 $2023$:

$*$Used $100\%$ for business purposes.

Karane generated taxable income in $2023$ of $$1,787,500$ for purposes of computing the $$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 zer$$ if $$ppolicable$.$ Input all the values as positive numbers.

Comprehensive Problem $10-76$ Part a $($Algo$)$

Required:

Compute the maximum $2022$ depreciation deductions, including $$179$ expense $($ignoring bonus depreciation$).$

Note: Apply the $$179$ deduction to the most expensive eligible asset first. Round your final answers to nearest whole dollar.