Required Information [The following information applies to the questions displayed below. Karane Enterprises, a calendar-year manufacturer besed In College Station, Texas, began business In the process of setting up the business, Karane has acquired various types of assets. Below is a l assets acquired during 2020: Cost Date Placed in Service Asset Office furniture$ 280,000 02/03/2020 Machinery Used delivery 1,586,000 07/22/2020 66,000 08/17/2020 truck* "Not considered a luxury automobile. During 2020, Karane was very successful (and had no $179 limitations) and decided to acquire more In 2021 to increase its production capacity. These are the assets acquired during 2021: Asset Computers and information system Luxury autot Assembly equipment Storage building Cost Date Placed in Service $ 426,000 03/31/2021 86,500 05/26/2021 1,330,000 08/15/2021 800,000 11/13/2021 tused 100% for business purposes. Karane generated taxable income in 2021 of $1,765,000 for purposes of computing the $179 expense limitation. (Use MACRS Table 1, Table 2. Table 3, Table 4, Table 5, and Exhibit 10-10.) (Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.) Required: a. Compute the maximum 2020 depreciation deductions, including $179 expense (ignoring bonus depreciatic Answer is not complete. Description Office furniture Cost $179 Expense MACRS Basis Current MACRS Total Cost Recovery $ 280,000 $ S S 150,000 Machinery 1,586,000 586,000X Depreciation Deduction 21,435X S 21,435 80.024x 80,024 Used delivery truck 66,000 6 40,000 8,000X 8,000 $ $ Total $ 0 1,932,000 $ 776,000 109,459 $ 109,459