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[The following information applies to the questions displayed below.] Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2021. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2021 : *Not considered a luxury automobile. During 2021, Karane was very successful (and had no $179 limitations) and decided to acquire more assets in 2022 to increase its production capacity. These are the assets acquired during 2022 : *Used 100% for business purposes. Karane generated taxable income in 2022 of $1,760,000 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 r blank. Enter zero if applicable. Input all the values as positive numbers. Required: Compute the maximum 2021 depreciation deductions, including 179 expense (ignoring bonus depreciation). Table 1 MACRS Half-Year Convention TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the first quarter \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Depreciation Rate for Recovery Period } \\ \hline & 5-Year & 7-Year \\ \hline Year 1 & 35.00% & 25.00% \\ \hline Year 2 & 26.00 & 21.43 \\ \hline Year 3 & 15.60 & 15.31 \\ \hline Year 4 & 11.01 & 10.93 \\ \hline Year 5 & 11.01 & 8.75 \\ \hline Year 6 & 1.38 & 8.74 \\ \hline Year 7 & & 8.75 \\ \hline Year 8 & & 1.09 \\ \hline \end{tabular} TABLE 2b MACRS Mid-Quarter Convention: For property placed in service during the second quarter \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Depreciation Rate for Recovery Period } \\ \hline & 5-Year & 7-Year \\ \hline Year 1 & 25.00% & 17.85% \\ \hline Year 2 & 30.00 & 23.47 \\ \hline Year 3 & 18.00 & 16.76 \\ \hline Year 4 & 11.37 & 11.97 \\ \hline Year 5 & 11.37 & 8.87 \\ \hline Year 6 & 4.26 & 8.87 \\ \hline Year 7 & & 8.87 \\ \hline Year 8 & & 3.34 \\ \hline \end{tabular} TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during the third quarter \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Depreciation Rate for Recovery Period } \\ \hline & 5-Year & 7-Year \\ \hline Year 1 & 15.00% & 10.71% \\ \hline Year 2 & 34.00 & 25.51 \\ \hline Year 3 & 20.40 & 18.22 \\ \hline Year 4 & 12.24 & 13.02 \\ \hline Year 5 & 11.30 & 9.30 \\ \hline Year 6 & 7.06 & 8.85 \\ \hline Year 7 & & 8.86 \\ \hline Year 8 & & 5.53 \\ \hline \end{tabular} TABLE 2d MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Depreciation Rate for Recovery Period } \\ \hline & 5-Year & 7-Year \\ \hline Year 1 & 5.00% & 3.57% \\ \hline Year 2 & 38.00 & 27.55 \\ \hline Year 3 & 22.80 & 19.68 \\ \hline Year 4 & 13.68 & 14.06 \\ \hline Year 5 & 10.94 & 10.04 \\ \hline Year 6 & 9.58 & 8.73 \\ \hline Year 7 & & 8.73 \\ \hline Year 8 & & 7.64 \\ \hline \end{tabular} TABLE 5 Nonresidential Real Property Mid-Month Convention Straight Line-39 Years (for assets placed in service on or after May 13, 1993) EXHIBIT 10-10 Automobile Depreciation Limits *As of press date, the IRS had not released the 2022 limitations for automobiles, so throughout the chapter we use the same limitations 2021 for $8,000 additional depreciation is allowed when bonus depreciation is claimed [$168(k)(2)(F)]