Comprehensive Problem $10-76($LO $10-1,$ LO $10-2,$ LO $10-3,$ LO $10-4,$ LO $10-5)($Algo$)$

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$[$The following information applies to the questions displayed below.$]$

Karane Enterprises, a calendar$-$year manufacturer based in College Station, Texas, began business in $2023.$ In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during $2023$:

AssetCostDate Placed in ServiceOffice furniture$ $190,00002/03$Machinery$1,600,00007/22$Used delivery truck$*$Note:$48,00008/17$

$*$Note:Not considered a luxury automobile.

During $2023,$ Karane was very successful $($and had no $179$ limitations$)$ and decided to acquire more assets in $2024$ to increase its production capacity. These are the assets acquired during $2024$:

AssetCostDate Placed in ServiceComputers and information system$ $408,00003/31$Luxury auto$*$Note:$82,00005/26$Assembly equipment$1,200,00008/15$Storage building$800,00011/13$

$*$Note:Used $100$ percent for business purposes.

Karane generated taxable income in $2024$ of $$1,742,500$ 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 $10-76$ Part c $($Algo$)$Required:

c$.$ Compute the maximum $2024$ depreciation deductions, including $\backslash (\backslash$$ $179\backslash )$ expense, but now assume that Karane would like to take bonus depreciation.

Note: Round your final answers to nearest whole dollar.

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|\}$

$\backslash$hline Description & $\backslash$multicolumn$\{2\}\{|$r$|\}\{$Cost$\}$ & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$Section $179$ Expense$\}$ & $\backslash$multicolumn$\{2\}\{|$r$|\}\{$Bonus$\}$ & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$MACRS Basis$\}$ & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$Current

MACRS

Depreciation$\}$ & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$Total Cost Recovery Deduction$\}\backslash \backslash$

$\backslash$hline $2023$ Assets & & & & & & & & & & & & $\backslash \backslash$

$\backslash$hline Office Furniture & $\backslash$$ & $190,000$ & $\backslash$$ & $0$ & & $190,000$ & & & & & $\backslash$$ & $190,000\backslash \backslash$

$\backslash$hline Machinery & & $1,600,000$ & & $0$ & & $440,000$ & & & & & & $440,000\backslash \backslash$

$\backslash$hline Used Delivery Truck & & $48,000$ & & $0$ & & $408,000$ & & & & & & $408,000\backslash \backslash$

$\backslash$hline $2024$ Assets & & & & & & & & & & & & $\backslash \backslash$

$\backslash$hline Computers and Information System & & $408,000$ & & $20,000$ & & & & & & & & $20,000\backslash \backslash$

$\backslash$hline Luxury Auto & & $82,000$ & & $0$ & & & & & & & & $0\backslash \backslash$

$\backslash$hline Assembly Equipment & & $1,200,000$ & & $1,200,000$ & & & & & & & & $1,200,000\backslash \backslash$

$\backslash$hline Storage Building & & $800,000$ & & $0$ & & & & & & & & $0\backslash \backslash$

$\backslash$hline Total & $\backslash$$ & $4,328,000$ & & $1,220,000$ & $\backslash$$ & $1,038,000$ & $\backslash$$ & $0$ & $\backslash$$ & $0$ & $\backslash$$ & $2,258,000\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$