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Required 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

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Required 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 2022. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2022: Date Placed in Asset Cost Service Office furniture Machinery $ 270,000 1,680,000 02/03/2022 07/22/2022 Used delivery truck* 64,000 08/17/2022 *Not considered a luxury automobile. During 2022, Karane was very successful (and had no 179 limitations) and decided to acquire more assets in 2023 to increase its production capacity. These are the assets acquired during 2023: Asset Computers and information system Luxury auto* Assembly equipment Storage building Cost $ 424,000 86,000 1,320,000 Date Placed in Service 03/31/2023 05/26/2023 08/15/2023 700,000 11/13/2023 *Used 100% for business purposes. Karane generated taxable income in 2023 of $1,762,500 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. Comprehensive Problem 10-76 Part b (Algo) Required: b. Compute the maximum 2023 depreciation deductions, including 179 expense (ignoring bonus depreciation). Note: Round your final answers to nearest whole dollar. Description 2022 Assets Office furniture Machinery Used delivery truck 2023 Assets Computers and Information System Luxury Auto Assembly Equipment Storage Building Total Cost Section 179 Expense Curre MACRS Basis MACE Depreci $ 0 $ 0 $ 0 $ 76 Part b (Algo) reciation deductions, including $179 expense nearest whole dollar. Current Cost Section 179 Expense Total Cost MACRS Basis MACRS Depreciation Recovery Deduction $ 0 0 0 0 0 0 $ 0 $ 0 0 $

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