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: Asset Cost Office furniture $ 250,000 Machinery 1,580,000 Used delivery truck* 60,000 *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: Asset Cost Computers and information system Description Date Placed in Service 02/03/2020 07/22/2020 08/17/2020 2020 Assets Office furniture Luxury autot Assembly equipment Storage building tUsed 100% for business purposes. Karane generated taxable income in 2021 of $1,757,500 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.) Required: Machinery Used delivery truck 2021 Assets $ 420,000 85,000 Computers and Information System Luxury Auto Assembly Equipment Storage Building Total 1,300,000 800,000 b. Compute the maximum 2021 depreciation deductions, including 179 expense (ignoring bonus depreciation). Date Placed in. Service 03/31/2021 Cost 05/26/2021 08/15/2021 11/13/2021 Section 179 Expense $ 250,000 $ 1,580,000 60,000 MACRS Basis 0 $ 0 0 0 0 420,000 85,000 1,300,000 800,000 800,000 0 $ 4,495,000 $ 800,000 $ 250,000 158,000 60,000 420,000 85,000 0 800,000 1,773,000 Current MACRS Depreciation $ 0 Total Cost Recovery Deduction $ S 0 0 0 0 0 800,000 0 800,000