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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

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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: Date Maced in Cost Service Office Furniture $ 150,000 02/03/2019 Machinery 1,500,000 07/22/2010 Used delivery truck 05/17/2019 "Not considered a luxury automobile, During 2019, Karane was very successful and had no 5179 limitations and decided to acquire more assets in 2020 to Increase its production capacity. These are the assets acquired during 2020: Date Placed in Cost Service Computers & Infosystem $100,000 03/11/2020 Luxury autot 30,000 05/26/2020 Assembly equipment 1.200.000 05/15/2020 Storage building 700.000 11/13/2020 TUsed 100% for business purposes. Karane generated taxable income in 2020 of 51.732.500 for purposes of computing the $179 expense limitation (Use MACRS Table 1. Table 2. Table 3. able 4. Table 5. and Exhibit 10-12.) (Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.) b. Compute the maximum 2020 depreciation deductions, including 5179 expense (ignoring bonus depreciation), Answer is not complete. Current Sec. 170 MACRS MACRO Expense Basis Depreciation Description Cost Total Cost Recovery Deduction 5 0 2019 Assets Office furniture Machinery Used delivery truck $ 150,000 1.500.000 40,000 0 0 0 2020 Assets Computers & Info System Luxury Auto Assembly Equipment Storage Building 0 400.000 80,000 1200.000 700.000 0 2.247 700.000 2.247 Total 2020 Cost Recovery $ 4130.000 0 $700.000 2 247 2.247 (Ctrl)

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