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Karane Enterprises, a calendar-year manufacturer based in College Station, Te of setting up the business, Karane has acquired various types of assets. Below Asset Office
Karane Enterprises, a calendar-year manufacturer based in College Station, Te of setting up the business, Karane has acquired various types of assets. Below Asset Office furniture Machinery Used delivery truck* Cost $ 150,000 1,560,000 40,000 Date Placed in Service 02/03/2019 07/22/2019 08/17/2019 *Not considered a luxury automobile. During 2019, Karane was very successful and had no $179 limitations) and dec increase its production capacity. These are the assets acquired during 2020: Asset Computers & info. system Luxury autot Assembly equipment Storage building Cost $ 400,000 80,000 1,200,000 700,000 Date Placed in Service 03/31/2020 05/26/2020 08/15/2020 11/13/2020 Used 100% for business purposes. Karane generated taxable income in 2020 of $1,732,500 for purposes of comp (Use MACRS Table 1, Table 2, Table 3, Table 4, Table 5, and Exhibit 10-10.) (Lea applicable. Input all the values as positive numbers.)
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