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. Asset Office furniture Machinery Used delivery truck Cost $ 150,000 1,560,000 Date Placed in Service 02/03/2019 07/22/2019 08/17/2010 "Not considered a luxury automobile. During 2019, Karane was very successful (and had no 5179 Imitations) and decided to acquire more assets in 2020 to increase its production capacity. These are the assets acquired during 2020. Date Placed in Asset Cost Service Computers & info. system $ 400,000 03731/2020 Luxury autot 30,000 05/26/2020 Assembly equipment 1,200,000 08/15/2020 Storage building 7ee.co 11/13/2008 TUsed 100% for business purposes Karane generated taxable income in 2020 of $4732.500 for purposes of computing the 5179 expense limitation. (Use MACRS Table 1. Table 2. Table 3. Table 4. Tobis 5, and Estik 19:10.7 Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.) d. Now assume that during 2020. Karane decides to buy a competitor's assets for a purchase price of $1350,000 Compute the maximum 2020 cost recovery, including 6179 expense and bonus depreciation Karane purchased the following assets for the lump sum purchase price: (Round your final answers to the nearest whole dollar amount.) ASSA Inventory Office furniture rochiery Patent Goodwill Building Land cost 5220.000 230.00 250, 190,000 Date placed in Service 09/15/2020 09/15/2020 09/15/2020 02/15/2ede 09/15/2020 09/15/2020 9/15/ 30,00 20,000 Tused 100% for business purposes. Karane generated taxable income in 2020 of $1.732,500 for purposes of computing the $179 expense limitation (Use MACRS Toble 1. Table 2. Table 3. Table 4 Table 5. and Exhibit 10-10.) (Leave no answer blank.Enter zero 11 applicable. Input all the values as positive numbers.) d. Now assume that during 2020, Karane decides to buy a competitor's assets for a purchase price of $1,350,000. Compute the maximum 2020 cost recovery, including $179 expense and bonus depreciation. Karane 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 $220,000 230,00 250.000 198,000 2,000 430, 20,000 Date Placed in Service 89/15/2020 09/15/2020 09/15/2020 09/15/2020 e9/15/2020 09/15/2820 09/15/2020 Description Cost Seo, 179 Expense Bonus MACRS Basis Current MACRS Depreciation Current Amortization Total Cost Recovery Deduction 2018 Assets Office Furniture Machinery Used Delivery Truck 2020 Assets Computers & Info System Luxury Auto Assembly Equipment Storage Building Inventory Office Furniture Machinery Patent Goodwill Building Land Totals 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. Asset Office furniture Machinery Used delivery truck Cost $ 150,000 1,560,000 Date Placed in Service 02/03/2019 07/22/2019 08/17/2010 "Not considered a luxury automobile. During 2019, Karane was very successful (and had no 5179 Imitations) and decided to acquire more assets in 2020 to increase its production capacity. These are the assets acquired during 2020. Date Placed in Asset Cost Service Computers & info. system $ 400,000 03731/2020 Luxury autot 30,000 05/26/2020 Assembly equipment 1,200,000 08/15/2020 Storage building 7ee.co 11/13/2008 TUsed 100% for business purposes Karane generated taxable income in 2020 of $4732.500 for purposes of computing the 5179 expense limitation. (Use MACRS Table 1. Table 2. Table 3. Table 4. Tobis 5, and Estik 19:10.7 Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.) d. Now assume that during 2020. Karane decides to buy a competitor's assets for a purchase price of $1350,000 Compute the maximum 2020 cost recovery, including 6179 expense and bonus depreciation Karane purchased the following assets for the lump sum purchase price: (Round your final answers to the nearest whole dollar amount.) ASSA Inventory Office furniture rochiery Patent Goodwill Building Land cost 5220.000 230.00 250, 190,000 Date placed in Service 09/15/2020 09/15/2020 09/15/2020 02/15/2ede 09/15/2020 09/15/2020 9/15/ 30,00 20,000 Tused 100% for business purposes. Karane generated taxable income in 2020 of $1.732,500 for purposes of computing the $179 expense limitation (Use MACRS Toble 1. Table 2. Table 3. Table 4 Table 5. and Exhibit 10-10.) (Leave no answer blank.Enter zero 11 applicable. Input all the values as positive numbers.) d. Now assume that during 2020, Karane decides to buy a competitor's assets for a purchase price of $1,350,000. Compute the maximum 2020 cost recovery, including $179 expense and bonus depreciation. Karane 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 $220,000 230,00 250.000 198,000 2,000 430, 20,000 Date Placed in Service 89/15/2020 09/15/2020 09/15/2020 09/15/2020 e9/15/2020 09/15/2820 09/15/2020 Description Cost Seo, 179 Expense Bonus MACRS Basis Current MACRS Depreciation Current Amortization Total Cost Recovery Deduction 2018 Assets Office Furniture Machinery Used Delivery Truck 2020 Assets Computers & Info System Luxury Auto Assembly Equipment Storage Building Inventory Office Furniture Machinery Patent Goodwill Building Land Totals