ework Assignment i OUVI Saved Help S [The following information applies to the questions displayed below.] Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2020. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2020 Asset Office furniture Machinery Used delivery truck Date Placed in Cost $ 390,000 1,608,000 88,000 Service 02/03/2020 07/22/2020 08/17/2020 "Not considered a luxury automobile. 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 Cost Computers and information system $ 448,000 Luxury autof Assembly equipment Storage building 92,000 1,440,000 700,000 Date Placed in Service 03/31/2021 05/26/2021 05/15/2021 11/13/2021 tUsed 100% for business purposes. Karane generated taxable income in 2021 of $1,792,500 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.) < Prev 2 3 4 5 of 7 Next >