! 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 2019. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2019: Asset Office furniture Machinery Used delivery truck* Cost $ 150,000 1,560,000 40,000 Date Placed in Service 02/03/2019 07/22/2019 08/17/2019 *Not considered a luxury automobile. During 2019, Karane was very successful and had no $179 limitations) and decided to acquire more assets in 2020 to increase its production capacity. These are the assets acquired during 2020: Asset Computers & info. system Luxury autot Assembly equipment Storage building Cost $ 400,000 80,000 1,200,000 700,000 Date Placed in Service 03/31/2020 05/26/2020 08/15/2020 11/13/2020 Used 100% for business purposes. Karane generated taxable income in 2020 of $1,732,500 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.) a. Compute the maximum 2019 depreciation deductions, including $179 expense (ignoring bonus depreciation). Description Cost $179 Expense MACRS Basis Current MACRS Depreciation Total Cost Recovery Deduction $ 150,000 $ 0 0 Office furniture Machinery Delivery truck Total 2019 Cost Recovery 1,560,000 40,000 1,750,000 $ 0 $ 0 $ 0 $ 0 $ 0 b. Compute the maximum 2020 depreciation deductions, including $179 expense (ignoring bonus depreciation). Description Cost Sec. 179 Expense MACRS Basis Current MACRS Depreciation Total Cost Recovery Deduction 2019 Assets $ 0 Office furniture Machinery Used delivery truck 0 0 2020 Assets Computers & Info. System Luxury Auto Assembly Equipment Storage Building Oo oo Total 2020 Cost Recovery $ 0 $ 0 $ 0 $ 0 $ 0 c. Compute the maximum 2020 depreciation deductions, including $179 expense, but now assume that Karane would like to take bonus depreciation. Description Cost Sec. 179 Expense Bonus MACRS Basis Current MACRS Depreciation Total Cost Recovery Deduction 2019 Assets $ 0 Office Furniture Machinery Used Delivery Truck 0 0 2020 Assets 0 0 Computers & Info. System Luxury Auto Assembly Equipment Storage Building 0 0 Total 2020 Cost Recovery $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 d. Now assume that during 2020, Karane decides to buy a competitor's assets for a purchase price of $1,350,000. Compute the maximum 2020 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.) Asset Inventory Office furniture Machinery Patent Goodwill Building Land Cost $ 220,000 230,000 250,000 198,000 2,000 430,000 20,000 Date Placed in Service 09/15/2020 09/15/2020 09/15/2020 09/15/2020 09/15/2020 09/15/2020 09/15/2020 Description Cost Sec. 179 Expense Bonus MACRS Basis Current MACRS Depreciation Current Amortization Total Cost Recovery Deduction $ 0 2019 Assets Office Furniture Machinery Used Delivery Truck 0 0 0 2020 Assets Computers & Info. System Luxury Auto Assembly Equipment Storage Building 0 0 0 0 Inventory Office Furniture Machinery Patent 0 0 0 Goodwill Building Land 0 0 Totals $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0