Required information Comprehensive Problem 10-76 (LO 10-1, LO 10-2, LO 10-3, LO 10-4, LO 10-5) The following information applies to the questions displayed below.) Karane Enterprises, a calendar year manufacturer based in College Station, Texas, began business in 2018. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2018: Asset Office furniture Machinery Used delivery truck Date Placed in Cost Service $ 150,000 02/03/2018 1,560,000 07/22/2018 40,000 08/17/2018 "Not considered a luxury automobile, During 2018, Karane was very successful and had no 5179 limitations) and decided to acquire more assets in 2019 to increase its production capacity. These are the assets acquired during 2019 Asset Computers & info. system Luxury autot Assembly equipment Storage building Date Placed in Cost Service $ 400,000 03/31/2019 80,000 05/26/2019 1,200,000 08/15/2019 700,000 11/13/2019 Used 100% for business purposes Karane generated taxable income in 2019 of $1,732,500 for purposes of computing the $179 expense. (Use MACRS Table 1, Table 2. Table 3. Table 4. Table 5. and Exhibit 10.10.) (Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.) Comprehensive Problem 10-76 Parta References a. Compute the maximum 2018 depreciation deductions, including 5179 expense (ignoring bonus depreciation) Description Cost 5179 Expense MACRS Basis MACRS Deprecation Total Depreciation Deduction Oh we Machinery Delivery trud Totats b. Compute the maximum 2019 depreciation deductions, including $179 expense (ignoring bonus depreciation). Description Cost Sec. 179 Expense MACRS Basis Current MACRS Depreciation Total Depreciation Deduction 2018 Assets Office furniture Machinery Used delivery truck 2019 Assets Computers & Info System Lucury Auto Assembly Equipment Storage Building Totals c. Compute the maximum 2019 depreciation deductions, including 5179 expense, but now assume that Karane would like to take bonus depreciation Description Cost Sec 179 Expense Bonus MACRS Basis Current MACRS Depreciation Total Depreciation Deduction 2018 Assets Office furniture Machinery Used delivery truck 2019 Assets Computers & Info System Luxury Auto Assembly Equipment Storage Building Totals Comprehensive Problem 10-76 Part d d. Now assume that during 2019, Karane decides to buy a competitor's assets for a purchase price of $1,350,000. Compute the maximum 2019 cost recovery, including $179 expense and bonus depreciation. Karane purchased the following assets for the lump- sum purchase price. (Round your final answers to the nearest whole dollar amount.) Asset Inventory Office furniture Machinery Patent Goodwill Building Land Date Placed in Cost Service $220, 09/15/2019 230,00 09/15/2019 250, eee 89/15/2019 198,000 09/15/2019 2,000 09/15/2019 430,000 09/15/2019 20, see 89/15/2019 Decotian Sec 179 Expanse BonusM ACRS Basis Current MACRS Depreciation Depreciation Dadiacion Used Ourense Luna Assembly Equipment Storage Buiding On Required information Comprehensive Problem 10-76 (LO 10-1, LO 10-2, LO 10-3, LO 10-4, LO 10-5) The following information applies to the questions displayed below.) Karane Enterprises, a calendar year manufacturer based in College Station, Texas, began business in 2018. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2018: Asset Office furniture Machinery Used delivery truck Date Placed in Cost Service $ 150,000 02/03/2018 1,560,000 07/22/2018 40,000 08/17/2018 "Not considered a luxury automobile, During 2018, Karane was very successful and had no 5179 limitations) and decided to acquire more assets in 2019 to increase its production capacity. These are the assets acquired during 2019 Asset Computers & info. system Luxury autot Assembly equipment Storage building Date Placed in Cost Service $ 400,000 03/31/2019 80,000 05/26/2019 1,200,000 08/15/2019 700,000 11/13/2019 Used 100% for business purposes Karane generated taxable income in 2019 of $1,732,500 for purposes of computing the $179 expense. (Use MACRS Table 1, Table 2. Table 3. Table 4. Table 5. and Exhibit 10.10.) (Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.) Comprehensive Problem 10-76 Parta References a. Compute the maximum 2018 depreciation deductions, including 5179 expense (ignoring bonus depreciation) Description Cost 5179 Expense MACRS Basis MACRS Deprecation Total Depreciation Deduction Oh we Machinery Delivery trud Totats b. Compute the maximum 2019 depreciation deductions, including $179 expense (ignoring bonus depreciation). Description Cost Sec. 179 Expense MACRS Basis Current MACRS Depreciation Total Depreciation Deduction 2018 Assets Office furniture Machinery Used delivery truck 2019 Assets Computers & Info System Lucury Auto Assembly Equipment Storage Building Totals c. Compute the maximum 2019 depreciation deductions, including 5179 expense, but now assume that Karane would like to take bonus depreciation Description Cost Sec 179 Expense Bonus MACRS Basis Current MACRS Depreciation Total Depreciation Deduction 2018 Assets Office furniture Machinery Used delivery truck 2019 Assets Computers & Info System Luxury Auto Assembly Equipment Storage Building Totals Comprehensive Problem 10-76 Part d d. Now assume that during 2019, Karane decides to buy a competitor's assets for a purchase price of $1,350,000. Compute the maximum 2019 cost recovery, including $179 expense and bonus depreciation. Karane purchased the following assets for the lump- sum purchase price. (Round your final answers to the nearest whole dollar amount.) Asset Inventory Office furniture Machinery Patent Goodwill Building Land Date Placed in Cost Service $220, 09/15/2019 230,00 09/15/2019 250, eee 89/15/2019 198,000 09/15/2019 2,000 09/15/2019 430,000 09/15/2019 20, see 89/15/2019 Decotian Sec 179 Expanse BonusM ACRS Basis Current MACRS Depreciation Depreciation Dadiacion Used Ourense Luna Assembly Equipment Storage Buiding On