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I need help with this Required information [The following information applies to the questions displayed below.] Karane Enterprises, a calendar-year manufacturer based in College Station,
I need help with this
Required information [The following information applies to the questions displayed below.] 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 $1,742,500 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. Required: Compute the maximum 2022 depreciation deductions, including \$179 expense (ignoring bonus depreciation). Note: Round your final answers to nearest whole dollarStep by Step Solution
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