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 $ 150,000 1,560,000 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 400,000 80,000 1,200,000 700,000 Date Placed in Service 03/31/2019 05/26/2019 08/15/2019 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 $179 expense (ignoring bonus depreciation). Description Cost Sec. 179 Expense MACRS Basis Current MACRS Depreciation Total Depreciation Deduction 2018 Assets Office furniture Machinery Used delivery truck 2019 Assets Computers & Info. System Luxury Auto Assembly Equipment Storage Building Totals 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 $ 150,000 1,560,000 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 400,000 80,000 1,200,000 700,000 Date Placed in Service 03/31/2019 05/26/2019 08/15/2019 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 $179 expense (ignoring bonus depreciation). Description Cost Sec. 179 Expense MACRS Basis Current MACRS Depreciation Total Depreciation Deduction 2018 Assets Office furniture Machinery Used delivery truck 2019 Assets Computers & Info. System Luxury Auto Assembly Equipment Storage Building Totals