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 Office furniture Cost $ 150,000 1,560,000 Date Placed in Service 02/03/2020 Machinery 07/22/2020 Used delivery truck* 40,000 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: Date Placed in Asset Computers and information system Cost $ 400,000 Service 03/31/2021 Luxury autot Assembly equipment Storage building 80,000 1,200,000 700,000 05/26/2021 08/15/2021 11/13/2021 Used 100% for business purposes. Karane generated taxable income in 2021 of $1,732,500 for purposes of computing the $179 expense limitation. Required: d. Now assume that during 2021, Karane decides to buy a competitor's assets for a purchase price of $1,350,000. Compute the maximum 2021 cost recovery, including $179 expense and bonus depreciation. Karane purchased the following assets for the lump- sum purchase price: (Round your final answers to the nearest whole dollar amount.) Required information Asset Cost Inventory $220,000 Office furniture 230,000 Date Placed in Service 09/15/2021 09/15/2021 Machinery 250,000 09/15/2021 Patent 198,000 09/15/2021 Goodwill 2,000 09/15/2021 Building Land 430,000 20,000 09/15/2021 09/15/2021 Assume that Karane takes the maximum section 179 expense for the Assembly Equipment. Description 2020 Assets Office Furniture Machinery Used Delivery Truck 2021 Assets Computers and Information System Luxury Auto Assembly Equipment Storage Building Inventory Office Furniture Machinery Patent Goodwill Building Cost Section 179 Expense Bonus MACRS Basis Current MACRS Depreciation Current Amortization Total Cost Recovery Deduction S 0 0 0 0 0 0 0 0 0 0 0 0 0