Required information

$[$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 $2022$:

$*$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 $2023$ :

$*$Used $100\%$ for business purposes.

Karane generated taxable income in $2023$ of $$1,755,000$ for purposes of computing the $$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 $($ignoring bonus depreciation$).$

Note: Apply the $$179$ deduction to the most expensive eligible asset first. Round your final answers to nearest whole dollar.

Answer is not complete.$[$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 $2022$:

Asset Cost Date Placed in Service

Office furniture $ $240,00002/03/2022$

Machinery $1,650,00007/22/2022$

Used delivery truck$*$Note: $58,00008/17/2022$

$*$Note: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 Cost Date Placed in Service

Computers and information system $ $418,00003/31/2023$

Luxury auto$*$Note: $84,50005/26/2023$

Assembly equipment $1,290,00008/15/2023$

Storage building $700,00011/13/2023$

$*$Note:Used $100\%$ for business purposes.

Karane generated taxable income in $2023$ of $$1,755,000$ 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.