Question: CP 2 . . Karane Enterprises, a calendar - year manufacturer based in College Station, Texas, began business in 2 0 2 3 . In
CPKarane Enterprises, a calendaryear manufacturer based in College Station, Texas, began business in In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during :AssetCostDate Placed in ServiceOffice furniture$ MachineryUsed delivery truckNote:Note:Not considered a luxury automobile.During Karane was very successful and had no limitations and decided to acquire more assets in to increase its production capacity. These are the assets acquired during :AssetCostDate Placed in ServiceComputers and information system$ Luxury autoNote:Assembly equipmentStorage buildingNote:Used percent for business purposes.Karane generated taxable income in of $ for purposes of computing the expense limitationUse MACRS Table Table Table Table Table and Exhibit Required:
a Compute the maximum depreciation deductions, including $ expense ignoring bonus depreciation
Note: Apply the $ deduction to the most expensive eligible asset first.
tableDescriptionCost, Expense,MACRS Basis,tableCurrentMACRSDepreciationtableTotal CostRecoveryDeductionOffice furniture,,,,,,,$MachineryUsed delivery truck,,,,,,,,Total$$ $ $$
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