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 2021. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2021: Asset office furniture Machinery Used delivery truck* Cost Date Placed in Service $ 350,000 1,600,000 80,000 02/03/2021 07/22/2021 08/17/2021 "Not considered a luxury automobile. During 2021, Karane was very successful (and had no 5179 limitations) and decided to acquire more assets in 2022 to increase its production capacity. These are the assets acquired during 2022: Date Placed in Asset Cost Service Computers and information system $440,000 03/31/2022 Luxury auto Assembly equipment Storage building 90,000 1,400,000 900,000 05/26/2022 08/15/2022 11/13/2022 "Used 100% for business purposes. Karane generated taxable income in 2022 of $1,782,500 for purposes of computing the 5179 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: d. Now assume that during 2022, Karane decides to buy a competitor's assets for a purchase price of $1,589,600. Compute the maximum 2022 cost recovery, including 5179 expense and bonus depreciation. Karane purchased the following assets for the lump- sum purchase price: Note: Round your final answers to the nearest whole dollar amount. Asset Cost Date Placed in Service Required information Patent Goodwill Building Land VAL 234,000 09/15/2022 5,600 09/15/2022 470,000 60,000 09/15/2022 09/15/2022 Assume that Karane takes the maximum section 179 expense for the Assembly Equipment. Description 2021 Assets Office Furniture Machinery Used Delivery Truck Answer is not complete. Cost Section 179 Expense Bonus MACRS Basis Current MACRS Depreciation Current Amortization $ 350,000 $ 0 $ 0$ 350,000 1,600,000 0 00 80,000 0 0 80,000 Total Cost Recovery Deduction 0 $ 0 0 09 0 2022 Assets Computers and Information System 440,000 00 440,000 09 440,000 Luxury Auto 90,000 00 0 Assembly Equipment 1,400,000 ( 00 Storage Building 900,000 - 09 00 900,000 0 Inventory 260,000 00 00 0 Office Furniture Machinery Patent Goodwill Building 270,000 270,000 09 270,000 290,000 00 290,000 00 290,000 234,000 0 0 5,600 0 0 0 470,000 00 00 0 Land Totals 60,000 00 00 00 00 0 0 $ 6,449,600 $ 0 $1,000,000 $ 1,330,000 $ 0 0 $ 1,000,000 Required: d. Now assume that during 2022, Karane decides to buy a competitor's assets for a purchase price of $1,589,600. Comput- maximum 2022 cost recovery, including 5179 expense and bonus depreciation. Karane purchased the following assets for- sum purchase price: Note: Round your final answers to the nearest whole dollar amount. Date Placed in Asset Cost Service Inventory $ 260,000 09/15/2022 office furniture 270,000 09/15/2022 Machinery 290,000 09/15/2022 Patent 234,000 09/15/2022 5,600 09/15/2022 470,000 09/15/2022 Land 60,000 09/15/2022 Goodwill Building Assume that Karane takes the maximum section 179 expense for the Assembly Equipment.