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 $ 150,000 Machinery 1,560,000 Used delivery truck* 40,000 *Not considered a luxury automobile. Date Placed in Service 02/03/2020 07/22/2020 08/17/2020 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: Date Placed in Asset Cost Service Computers & information system $ 400,000 03/31/2021 Luxury autot 80,000 05/26/2021 Assembly equipment 1,200,000 08/15/2021 Storage building 700,000 11/13/2021 tUsed 100% for business purposes. Karane generated taxable income in 2021 of $1,732,500 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: b. 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 $ 0 $ $ 150,000 1,560,000 40,000 1,020,000 $ 150,000 540,000 40,000 21,435 $ 21,435 77,166 X 1,097,166 8,000 8,000 2020 Assets Office furniture Machinery Used delivery truck 2021 Assets Computers and Information System Luxury Auto Assembly Equipment Storage Building Total 0 400,000 80,000 1,200,000 700,000 $ 4,130,000 400,000 0 80,000 1,040,000 160,000 0 700,000 $ 2,060,000 $ 2,070,000 80,000 80,000 10,100 10,100 22,864 X 1,062,864 2,267 X 2,267 221,832 $ 2,281,832 $