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: Cost Date Placed in Asset Office furniture Machinery Used delivery truck* Service $ 260,000 1,582,000 62,000 02/03/2021 07/22/2021 08/17/2021 *Not considered a luxury automobile. During 2021, Karane was very successful (and had no 179 limitations) and decided to acquire more assets in 2022 to increase its production capacity. These are the assets acquired during 2022: Luxury auto* Asset Computers and information system Assembly equipment Storage building Cost $ 422,000 85,500 1,310,000 900,000 Date Placed in Service 03/31/2022 05/26/2022 08/15/2022 11/13/2022 *Used 100% for business purposes. Karane generated taxable income in 2022 of $1,760,000 for purposes of computing the $179 expense limitation. (Use MACRS Table 1, Table 2, Table 3, Table 4, Table 5, and Exhibit 10-10.)