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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 2020.

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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 2020. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2020: Date Placed in Asset Cost Service Office furniture $ 150,000 22/03/2020 Machinery 1,560,000 07/22/2020 Used delivery truck 40,000 88/17/2020 "Not considered a luxury automobile. During 2020, Karane was very successful and had no 5179 limitations) and decided to acquire more assets in 2021 to increase its production capacity. These are the assets acquired during 2021: Date Placed in Asset Cost Service Computers and Infornation systen $ 400,00 83/31/2021 Luxury autot 80,000 05/26/2021 Assembly equipnent 1,200,000 08/15/2021 Storace building 700,00 11/13/2021 Used 100% for business purposes. Karane generated taxable income in 2021 of $1732,500 for purposes of computing the 5179 expense limitation (Use MACRS Table 1. Table 2. Table 3. Table 4. Table 5, and Exhibit 10-10.) (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 depreciation). Description Cost $179 Expense MACRS Basis Current MACRS Depreciation Total Cost Recovery Deduction Office furniture $ 0 0 Machinery Used delivery truck Total 0 $ 0 $ 0 $ S 0 0

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