Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2020. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2020: Date Placed in Asset Cost Service Office furniture Machinery Used delivery truck* $ 280,000 1,586,000 66,000 02/03/2020 07/22/2020 08/17/2020 *Not considered a luxury automobile. During 2020, Karane was very successful (and had no 179 limitations) and decided to acquire more assets in 2021 to increase its production capacity. These are the assets acquired during 2021: Cost Date Placed in Service Asset Computers and information system Luxury autot Assembly equipment Storage building $ 426,000 86,500 1,330,000 800,000 03/31/2021 05/26/2021 08/15/2021 11/13/2021 Used 100% for business purposes. Karane generated taxable income in 2021 of $1,765,000 for purposes of computing the $179 expense limitation. (Use MACRS Table 1, Table 2, Table 3, Table 4, Table 5, and Exhibit 10-10.) (Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.) equired: Compute the maximum 2021 depreciation deductions, including $179 expense (ignoring bonus depreciation). Description Cost Section 179 Expense MACRS Basis Current MACRS Depreciation Total Cost Recovery Deduction 2020 Assets Office furniture $ 280,000 $ 0 $ Machinery 1,586,000 1,050,000 280,000 $ 536,000 40,012 $ 40,012 76,594 1,126,594 Used delivery truck 66,000 66,000 13,200 13,200 2021 Assets Computers and Information System 426,000 0 426,000 85,200 85,200 Luxury Auto 86,500 0 86,500 17,300 17,300 Assembly Equipment 1,330,000 1,050,000 280,000 40,012 1,090,012 Storage Building 1,315,000 1,050,000 265,000 1,050,000 Total $ 5,089,500 $ 3,150,000 $ 1,939,500 $ 272,318 $ 3,422,318