LO 10-4, LO 10-5) (Algo) [The following information applies to the questions displayed below.] Karane Enterprises,...

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LO 10-4, LO 10-5) (Algo) [The following information applies to the questions displayed below.] 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: Cost Date Placed in Service Asset Office furniture Machinery Used delivery truck $ 270,000 1,680,000 64,000 02/03/2022 07/22/2022 08/17/2022 *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 Luxury auto Assembly equipment Storage building $ 424,000 03/31/2023 86,000 05/26/2023 1,320,000 08/15/2023 700,000 11/13/2023 "Used 100% for business purposes. Karane generated taxable income in 2023 of $1,762,500 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) equired: imum 3023 depreciation deductions, including $179 exper values as positive numbers. Comprehensive Problem 10-76 Part c (Algo) input all the Required: c. Compute the maximum 2023 depreciation deductions, including $179 expense, but now assume that Karane would like to take bonus depreciation. Note: Round your final answers to nearest whole dollar. 2022 Assets Description Cost Section 179 Expense Bonus MACRS Office Furniture Machinery Used Delivery Truck 270,000 $ 0 $ 0 1,680,000 0 64,000 0 0 2023 Assets Computers and Information System 424,000 0 0 Luxury Auto 86,000 0 0 Assembly Equipment 1,320,000 0 Storage Building Total 700,000 $ 4,544,000 $ 0 0 $ 0 $ art c (Algo) on deductions, including $179 expense, but bonus depreciation. t whole dollar. Current ost Section 179 Expense Bonus MACRS Basis MACRS Depreciation Total Cost Recovery Deduction 270,000 $ 0 $ ,680,000 0 0 64,000 0 0 $ 0 0 0 424,000 0 0 86,000 0 0 0 ,320,000 0 0 700,000 0 0 ,544,000 $ 0 $ $ 0 $ 0 $ LO 10-4, LO 10-5) (Algo) [The following information applies to the questions displayed below.] 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: Cost Date Placed in Service Asset Office furniture Machinery Used delivery truck $ 270,000 1,680,000 64,000 02/03/2022 07/22/2022 08/17/2022 *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 Luxury auto Assembly equipment Storage building $ 424,000 03/31/2023 86,000 05/26/2023 1,320,000 08/15/2023 700,000 11/13/2023 "Used 100% for business purposes. Karane generated taxable income in 2023 of $1,762,500 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) equired: imum 3023 depreciation deductions, including $179 exper values as positive numbers. Comprehensive Problem 10-76 Part c (Algo) input all the Required: c. Compute the maximum 2023 depreciation deductions, including $179 expense, but now assume that Karane would like to take bonus depreciation. Note: Round your final answers to nearest whole dollar. 2022 Assets Description Cost Section 179 Expense Bonus MACRS Office Furniture Machinery Used Delivery Truck 270,000 $ 0 $ 0 1,680,000 0 64,000 0 0 2023 Assets Computers and Information System 424,000 0 0 Luxury Auto 86,000 0 0 Assembly Equipment 1,320,000 0 Storage Building Total 700,000 $ 4,544,000 $ 0 0 $ 0 $ art c (Algo) on deductions, including $179 expense, but bonus depreciation. t whole dollar. Current ost Section 179 Expense Bonus MACRS Basis MACRS Depreciation Total Cost Recovery Deduction 270,000 $ 0 $ ,680,000 0 0 64,000 0 0 $ 0 0 0 424,000 0 0 86,000 0 0 0 ,320,000 0 0 700,000 0 0 ,544,000 $ 0 $ $ 0 $ 0 $