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 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: Asset Office furniture Machinery Date Placed in Cost $ 150,000 1,560,000 Service 02/03/2020 07/22/2020 40,000 08/17/2020 Used delivery truck* "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 Asset Cost Service Computers & information system $400,000 03/31/2021 Luxury autot Assembly equipment Storage building 80,000 1,200,000 700,000 05/26/2021 08/15/2021 11/13/2021 Used 100% for business purposes. Karane generated taxable income in 2021 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 not answer blank. Enter zero if applicable. Input all the values as positive numbers.) Prev 1 2 3 of 3 Next > Asset Computers & information system Luxury autot Assembly equipment Storage building Cost $ 400,000 Date Placed in Service 03/31/2021 80,000 1,200,000 05/26/2021 08/15/2021 700,000 11/13/2021 +Used 100% for business purposes. Karane generated taxable income in 2021 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.) Required: a. Compute the maximum 2020 depreciation deductions, including 5179 expense (ignoring bonus depreciation). Description Office furniture Machinery Used delivery truck Total Cost Section 179 MACRS Basis Current MACRS Expense Depreciation Total Cost Recovery Deduction