[The following information applies to the questions displayed below.] Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2017. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2017 Date Placed in Service 02/03/2017 07/22/2017 08/17/2017 Asset Cost Office furniture Machinery Used delivery truck* $150,000 1,560,000 40,000 Not considered a luxury automobile During 2017, Karane was very successful (and had no S179 limitations) and decided to acquire more assets this next year to increase its production capacity. These are the assets acquired during 2018 Date Placed in Service 03/31/2018 05/26/2018 08/15/2018 11/13/2018 Asset Cost Computers & info. system Luxury autot Assembly equipment Storage building 400,000 80,000 1,200,000 700,000 tUsed 100% for business purposes Karane generated taxable income in 2018 of $1,732,500 for purposes of computing the S179 expense (Use MACRS Table 1, Table 2, Table 3, Table 4, Table 5, and Exhibit 10-10.) Assume the 2017 179 limits are the same as those in 2018. (Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.) [The following information applies to the questions displayed below.] Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2017. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2017 Date Placed in Service 02/03/2017 07/22/2017 08/17/2017 Asset Cost Office furniture Machinery Used delivery truck* $150,000 1,560,000 40,000 Not considered a luxury automobile During 2017, Karane was very successful (and had no S179 limitations) and decided to acquire more assets this next year to increase its production capacity. These are the assets acquired during 2018 Date Placed in Service 03/31/2018 05/26/2018 08/15/2018 11/13/2018 Asset Cost Computers & info. system Luxury autot Assembly equipment Storage building 400,000 80,000 1,200,000 700,000 tUsed 100% for business purposes Karane generated taxable income in 2018 of $1,732,500 for purposes of computing the S179 expense (Use MACRS Table 1, Table 2, Table 3, Table 4, Table 5, and Exhibit 10-10.) Assume the 2017 179 limits are the same as those in 2018. (Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.)