Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2017 In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2017 Date Placed in Service Asset Cost Office furniture Machinery Used delivery truck $ 150,e00 02/03/2017 07/22/2817 40,000 08/17/2017 1,560,00e Not considered a luxury automobile During 2017, Karane was very successful (and had no $179 limitations) and decided to acquire more assets this next year to increase its production capacity. These are the assets acquired during 2018 Date Placed in Service Cost 400,eee Asset Computers & info. system Luxury autot Assembly equipment Storage building 83/31/2018 8e,e00 e5/26/2018 1,280,e0 08/1s/2818 700,000 11/13/2818