Comprehensive Problem $02-76($LO $02-1,$ LO $02-2,$ LO $02-3,$ LO $02-4,$ LO $02-5)($Static$)$

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Karane Enterprises, a calendar$-$year manufacturer based in College Station, Texas, began business in $2022.$ In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during $2022$:

Asset Cost Date Placed in Service

Office furniture $ $150,00002/03/2022$

Machinery $1,560,00007/22/2022$

Used delivery truck$*$Note: $40,00008/17/2022$

$*$Note:Not considered a luxury automobile.

During $2022,$ Karane was very successful $($and had no $179$ limitations$)$ and decided to acquire more assets in $2023$ to increase its production capacity. These are the assets acquired during $2023$:

Asset Cost Date Placed in Service

Computers and information system $ $400,00003/31/2023$

Luxury auto$*$Note: $80,00005/26/2023$

Assembly equipment $1,200,00008/15/2023$

Storage building $700,00011/13/2023$

$*$Note:Used $100\%$ for business purposes.

Karane generated taxable income in $2023$ of $$1,732,500$ for purposes of computing the $179$ expense limitation$.($Use MACRS Table $1,$ Table $2,$ Table $3,$ Table $4,$ Table $5,$ and Exhibit $10-10.)$

Note: Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.

Comprehensive Problem $02-76$ Part b $($Static$)$

Required:

b$.$b$.$ Compute the maximum $2023$ depreciation deductions, including $179$ expense $($ignoring bonus depreciation$).$