Required information Info For Homework Problem (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 $ 150,00 02/03/2020 Machinery 1,560,000 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 5179 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 and infornation system $ 480,000 03/31/2021 Luxury autot 80,000 e5/26/2e21 Assembly equipment 1,200,000 08/15/2021 Storage building 700,00 11/13/2021 Used 100% for business purposes. Katane generated taxable income in 2021 of $1732,500 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.) b. Compute the maximum 2021 depreciation deductions, including $179 expense (ignoring bonus depreciation) Answer is complete but not entirely correct. Section Current Cost 179 MACRS MACRS Basis Expense Depreciation Description Total Cost Recovery Deduction $ s 150,000 $ 1,560,000 40,000 > 0 $ 150,000 1,020,000 540,000 0 36,735 S 132,246 12,800 36.735 1.152.246 12,800 40,000 2020 Assets Office furniture Machinery Used delivery truck 2021 Assets Computers and Information System Luxury Auto Assembly Equipment Storage Building Total 400,000 0 80,000 80,000 1,200,000 700,000 $ 4,130,000 0 1,020,000 0 $ 2,040,000 400,000 80.000 180,000 700,000 $ 2.000.000 80,000 10,000 25,722 2,247 299.750 10,000 1.045.722 2.247 $ 2,339.750 $