Requirea information Comprehensive Problem 10-76 (LO 10-1, LO 10-2, LO 10-3, LO 10-4, LO 10- 5) (Algo) [The following information applies to the questions displayed below.] 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 $ 230,000 1,576,000 02/03/2020 07/22/2020 Used delivery truck* 56,000 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 Service Asset Cost Computers and information $ 416,000 03/31/2021 system Luxury autot 84,000 05/26/2021 Assembly equipment 1,280,000 08/15/2021 Storage building 900,000 11/13/2021 Used 100% for business purposes. Karane generated taxable income in 2021 of $1,752,500 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.) Comprehensive Problem 10-76 Part a (Algo) Required: a. Compute the maximum 2020 depreciation deductions, including 179 expense (ignoring bonus depreciation). Description Cost 179 Expense MACRS Basis Current MACRS Depreciation Total Cost Recovery Deduction Office furniture $ Machinery 230,000 $ 1,576,000 0 $ 230,000 $ 0 0 Used delivery truck 56,000 0 56,000 0 Total $ 1,862,000 $ 0 $ 286,000 $ 0 $ 0