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 2018. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2018: Date Placed in Asset Machinery 1,560,000 07/22/2018 Used delivery truck 40,000 Office furniture Cost $ 150,000 Service 02/03/2018 08/17/2018 "Not considered a luxury automobile. During 2018, Karane was very successful (and had no $179 limitations) and decided to acquire more assets in 2019 to increase its production capacity. These are the assets acquired during 2019: Asset Computers & info. system Luxury autot Assembly equipment Storage building Cost $ 400,000 80,000 1,200,000 700,000 Date Placed in Service 03/31/2019 05/26/2019 08/15/2019 11/13/2019 tUsed 100% for business purposes. Karane generated taxable income in 2019 of $1,732,500 for purposes of computing the $179 expense. (Use MACRS Table 1. Table 2. Table 3, Table 4, Toble 5, and Exhibit 10-10.) (Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.) Computers & info. system Luxury autot Assembly equipment Storage building $ 400,000 80,000 1,200,000 700,000 03/31/2019 05/26/2019 08/15/2019 11/13/2019 tUsed 100% for business purposes. Karane generated taxable income in 2019 of $1,732,500 for purposes of computing the $179 expense. (Use Table 1, Table 2, Table 3, Table 4, Table 5, and Exhibit 10-10.) (Leave no answer blank. Enter zero if applicablu the values as positive numbers.) a. Compute the maximum 2018 depreciation deductions, including $179 expense (ignoring bonus depreciation). naman Description Cost $179 Expense MACRS Basis Current MACRS Depreciation Total Depreciation Deduction $ 0 Office furniture Machinery Delivery truck Totals 150,000 1,560,000 40,000 1,750,000 $ 0 0 $ $ 0 $ 0 b. Compute the maximum 2019 depreciation deductions, including S179 expense (ignoring bonus depreciation). Description Cost Sec. 179 Expense MACRS Basis Current MACRS Depreciation Total Depreciation Deduction 0 2018 Assets Office furniture Machinery Used delivery truck 0 0 2019 Assets 0 0 Computers & Info System Luxury Auto Assembly Equipment Storage Building 400,000 80,000 1,200,000 700,000 0 0 Totals $ 2,380,000 $ 0 $ $ 0 c. Compute the maximum 2019 depreciation deductions, including $179 expense, but now assume that karane would like to take bonus depreciation Description Cost Sec. 179 Expense Bonus MACRS Basis Current MACRS Depreciation Total Depreciation Deduction $ 0 2018 Assets Office fumiture Machinery Used delivery truck 0 0 0 2019 Assets Computers & Info System Luxury Auto Assembly Equipment Storage Building 0 0 0 Totals $ 0 $ 0 $ 0 $ 0 $ 0 d. Now assume that during 2019, Karane decides to buy a competitor's assets for a purchase price of $1,350,000. Compute the maximum 2019 cost recovery, including S179 expense and bonus depreciationKarane purchased the following assets for the lump- sum purchase price. (Round your final answers to the nearest whole dollar amount.) Asset Inventory Office furniture Machinery Patent Goodwill Building Land Cost $220,000 230,000 250,000 198,000 2,000 430,000 20,000 Date Placed in Service 09/15/2019 09/15/2019 09/15/2019 09/15/2019 09/15/2019 09/15/2019 09/15/2019 Description Cost Sec. 179 Expense Bonus MACRS Basis Current MACRS Depreciation Total Depreciation Deduction 2018 Assets Office furniture Machinery Used delivery truck $ 0 0 0 2019 Assets Computers & Info System Ain 0 n Required information Description Cost Sec. 179 Expense Bonus MACRS Basis Current MACRS Depreciation Total Depreciation Deduction 2018 Assets Office furniture Machinery Used delivery truck 0 0 0 0 2019 Assets Computers & Info. System Luxury Auto Assembly Equipment Storage Building 0 0 0 0 0 Inventory Office Furniture Machinery Patent Goodwill Building Land 0 0 0 0 0 Totals $ 0 $ $ 0 $ 0 $ 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 2018. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2018: Date Placed in Asset Machinery 1,560,000 07/22/2018 Used delivery truck 40,000 Office furniture Cost $ 150,000 Service 02/03/2018 08/17/2018 "Not considered a luxury automobile. During 2018, Karane was very successful (and had no $179 limitations) and decided to acquire more assets in 2019 to increase its production capacity. These are the assets acquired during 2019: Asset Computers & info. system Luxury autot Assembly equipment Storage building Cost $ 400,000 80,000 1,200,000 700,000 Date Placed in Service 03/31/2019 05/26/2019 08/15/2019 11/13/2019 tUsed 100% for business purposes. Karane generated taxable income in 2019 of $1,732,500 for purposes of computing the $179 expense. (Use MACRS Table 1. Table 2. Table 3, Table 4, Toble 5, and Exhibit 10-10.) (Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.) Computers & info. system Luxury autot Assembly equipment Storage building $ 400,000 80,000 1,200,000 700,000 03/31/2019 05/26/2019 08/15/2019 11/13/2019 tUsed 100% for business purposes. Karane generated taxable income in 2019 of $1,732,500 for purposes of computing the $179 expense. (Use Table 1, Table 2, Table 3, Table 4, Table 5, and Exhibit 10-10.) (Leave no answer blank. Enter zero if applicablu the values as positive numbers.) a. Compute the maximum 2018 depreciation deductions, including $179 expense (ignoring bonus depreciation). naman Description Cost $179 Expense MACRS Basis Current MACRS Depreciation Total Depreciation Deduction $ 0 Office furniture Machinery Delivery truck Totals 150,000 1,560,000 40,000 1,750,000 $ 0 0 $ $ 0 $ 0 b. Compute the maximum 2019 depreciation deductions, including S179 expense (ignoring bonus depreciation). Description Cost Sec. 179 Expense MACRS Basis Current MACRS Depreciation Total Depreciation Deduction 0 2018 Assets Office furniture Machinery Used delivery truck 0 0 2019 Assets 0 0 Computers & Info System Luxury Auto Assembly Equipment Storage Building 400,000 80,000 1,200,000 700,000 0 0 Totals $ 2,380,000 $ 0 $ $ 0 c. Compute the maximum 2019 depreciation deductions, including $179 expense, but now assume that karane would like to take bonus depreciation Description Cost Sec. 179 Expense Bonus MACRS Basis Current MACRS Depreciation Total Depreciation Deduction $ 0 2018 Assets Office fumiture Machinery Used delivery truck 0 0 0 2019 Assets Computers & Info System Luxury Auto Assembly Equipment Storage Building 0 0 0 Totals $ 0 $ 0 $ 0 $ 0 $ 0 d. Now assume that during 2019, Karane decides to buy a competitor's assets for a purchase price of $1,350,000. Compute the maximum 2019 cost recovery, including S179 expense and bonus depreciationKarane purchased the following assets for the lump- sum purchase price. (Round your final answers to the nearest whole dollar amount.) Asset Inventory Office furniture Machinery Patent Goodwill Building Land Cost $220,000 230,000 250,000 198,000 2,000 430,000 20,000 Date Placed in Service 09/15/2019 09/15/2019 09/15/2019 09/15/2019 09/15/2019 09/15/2019 09/15/2019 Description Cost Sec. 179 Expense Bonus MACRS Basis Current MACRS Depreciation Total Depreciation Deduction 2018 Assets Office furniture Machinery Used delivery truck $ 0 0 0 2019 Assets Computers & Info System Ain 0 n Required information Description Cost Sec. 179 Expense Bonus MACRS Basis Current MACRS Depreciation Total Depreciation Deduction 2018 Assets Office furniture Machinery Used delivery truck 0 0 0 0 2019 Assets Computers & Info. System Luxury Auto Assembly Equipment Storage Building 0 0 0 0 0 Inventory Office Furniture Machinery Patent Goodwill Building Land 0 0 0 0 0 Totals $ 0 $ $ 0 $ 0 $