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Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2018. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2018: Asset Office furniture Machinery Used delivery truck Cost $ 150, eee 1,560, ee 40,000 Date Placed in Service 02/03/2018 07/22/2018 08/17/2018 *Not considered a luxury automobile. During 2018. Karane was very successful and had no $179 limitations) and decided to acquire more assets in 2019 to increase its production capacity. These are the assets acquired during 2019: Asset Computers & info. system Luxury autot Assembly equipment Storage building Cost $ 400,00 89, eee 1,200, eae 780, eee Date Placed in Service 03/31/2019 25/26/2019 88/15/2019 11/13/2019 tused 100% for business purposes. Karane generated taxable income in 2019 of $1,732,500 for purposes of computing the $179 expense. (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.) b. Compute the maximum 2019 depreciation deductions, including 5179 expense (ignoring bonus depreciation). Description Cost Sec. 179 Expense MACRS Basis Current MACRS Depreciation Total Depreciation Deduction S 0 2018 Assets Office furniture Machinery Used delivery truck 0 0 2019 Assets Computers & Info System Luxury Auto Assembly Equipment Storage Building OOOO Totals S S 0 S S c. Compute the maximum 2019 depreciation deductions, including $179 expense, but now assume that karane would like to take bonus depreciation. Description Cost Sec. 179 Expense Bonus MACRS Basis Current MACRS Depreciation Total Depreciation Deduction S 2018 Assets Office furniture Machinery Used delivery truck 0 2019 Assets Computers & Info. System Luxury Auto Assembly Equipment Storage Building 0 Totals S 0 S 0 S S 0 S 0 d. Now assume that during 2019, Karane decides to buy a competitor's assets for a purchase price of $1,350,000. Compute the maximum 2019 cost recovery, including 5179 expense and bonus depreciation. Karane purchased the following assets for the lump-sum purchase price. (Round your final answers to the nearest whole dollar amount.) Asset Inventory Office furniture Machinery Patent Goodwill Building Land Cost $220, 880 230,000 25e,eee 198,880 2,eee 430,880 2e, eee Date Placed in Service 89/15/2019 29/15/2019 89/15/2019 29/15/2019 89/15/2019 29/15/2019 09/15/2019 Description Cost Sec. 179 Expense Bonus MACRS Basis Current MACRS Depreciation Total Depreciation Deduction S 0 2018 Assets Office furniture Machinery Used delivery truck 0 0 2010 Assets Computers & Info System Luxury Auto Assembly Equipment Storage Building OOOO 0 0 Inventory Office Furniture Machinery Patent Goodwill 0 0 Building Land 0 Totals S 0 S 0 S 0 S 0 S Depreciation Rate for Recovery Period 3-Year S-Year 7-Year 10-Year 15-Year 20-Year Year 1 33.3396 20.00% 14.29% 10.000 5.00 3.7504 Year 2 44.45 32.00 18.00 7219 Year 3 14.81 19.20 17:49 14.40 8.55 6 677 Year 4 7.41 11.52 12.49 11.52 7.70 6.177 Year 5 11.52 8.93 9.22 6.93 5.713 Year 6 5.76 8.92 737 6.23 5285 Year 7 8.93 6.55 5.90 4.888 Years 4.46 6.55 5.90 4.522 Year 9 6.56 5.91 4.462 Year 10 6.55 3.90 4.451 Year 11 3.28 591 4.462 Year 12 5.90 4.461 Year 13 591 4.462 Year 14 3.90 4.461 Year 15 591 4462 Year 16 2.95 4.461 Year 17 4 462 Year 18 4.461 Year 19 4 462 Year 20 4.461 Year 21 2.21 TABLE 2 MACRS M-Quarter Caveti: For property placed service de fraquorse Depreciation Rate for Recovery Period S-Year -Year 35.00 25.00 Vear 2 Year 15.60 15 31 11.01 10.93 1101 8.75 5.74 8.75 Tears TABLE 26 MACRS id Quarter Convention For property placed in service der the second quarter Depreciation Rate for Recovery Period Sear 17854 Year 2 1000 23:47 18.00 165 1137 Tears 1137 5.57 Year 4.26 8.57 8.57 3.34 TABLE - MACRS Mid-Quarter Cravation: For prepare placed andra skord quare Maari 119 Years Depreciation Rate for Recovery Period 3. Wear 7. Wear 15.000 10.71% 34,00 2551 2040 1823 Year 4 1214 1302 Year 11.30 9.30 Year 8.85 8.86 Years 553 TABLE SA MACES Mid Quarter Convention: Por property placed in serica diring the fourri quarter Depreciation Rate for Recovery Period 5. Year! SOOME 3.57% Year 2 38 00 2755 Year 22.80 19.65 Year 4 13.58 14.06 Years 10.94 2004 Year 9.58 873 Year 873 Years 764 M Www 3 3.10 36 360 2.50 06 Var 36 Ver Sur 3 34 16 2.50 360 JO TE 10 3.504 Ver W 3.48 361 JU 1 106 15 30: Ver 30 Ver 36 380 24 10 10 SIS Var LE 1 16 10T 11 06 161 151 16 1 SES is 26 1 LIM 06 Var 0163 TER That 1 11 11 11 119 1 IT 1 IT 1 It ENARIT 20 Desain Verwer INT TO 3.000 en die www