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Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2021. In the process of setting up the business, Karane has

Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2021. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2021: Date Placed in Asset Office furniture Machinery Used delivery truck* Cost Service $ 150,000 02/03/2021 1,560,000 40,000 07/22/2021 08/17/2021 *Not considered a luxury automobile. During 2021, Karane was very successful (and had no 179 limitations) and decided to acquire more assets in 2022 to increase its production capacity. These are the assets acquired during 2022: Asset Computers and information system $ 400,000 Luxury auto* Assembly equipment Storage building Date Placed in Cost Service 03/31/2022 80,000 05/26/2022 1,200,000 08/15/2022 700,000 11/13/2022 *Used 100% for business purposes. Karane generated taxable income in 2022 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.) Note: Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers. Required: . Compute the maximum 2022 depreciation deductions, including 179 expense, but now assume that Karane would like to take bonus depreciation. 2021 Assets Description Office Furniture Machinery Used Delivery Truck 2022 Assets Computers and Information System Luxury Auto Assembly Equipment Storage Building Total Cost Section 179 Expense Bonus MACRS Basis Current MACRS Total Reco Depreciation Dedu $ 0 $ 0 $ 0 0 0 SA SA

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