Required Information [The following information applies to the questions displayed below.] Karane Enterprises, a calendar-year manufacturer...

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Required Information [The following information applies to the questions displayed below.] Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2021. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2021: Asset office furniture Machinery Used delivery truck* *Not considered a luxury automobile. During 2021, Karane was very successful (and had no §179 limitations) and decided to acquire more assets in 2022 to Increase its production capacity. These are the assets acquired during 2022: Description Cost $ 150,000 1,560,000 40,000 Asset Computers and information system Luxury auto* Assembly equipment storage building *Used 100% for business purposes. Karane generated taxable income in 2022 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. Office furniture Machinery Used delivery truck Total Date Placed in Service 02/03/2021 07/22/2021 08/17/2021 Required: a. Compute the maximum 2021 depreciation deductions, including §179 expense (ignoring bonus depreciation). Cost S 150,000 1,560,000 40,000 S 1,750,000 Cost $ 400,000 80,000 1,200,000 700,000 S Date Placed in Service 03/31/2022 05/26/2022 08/15/2022 11/13/2022 Answer is not complete. MACRS Basis §179 Expense 0 Current MACRS Depreciation Total Cost Recovery Deduction 150,000 $ 150,000 $ 150,000 S 1,020,000 X 40,000 132,246 X 132,246 12,800 12,800 $ 1,210,000 S 295,046 S 295,046 Required Information [The following information applies to the questions displayed below.] Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2021. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2021: Asset office furniture Machinery Used delivery truck* *Not considered a luxury automobile. During 2021, Karane was very successful (and had no §179 limitations) and decided to acquire more assets in 2022 to Increase its production capacity. These are the assets acquired during 2022: Description Cost $ 150,000 1,560,000 40,000 Asset Computers and information system Luxury auto* Assembly equipment storage building *Used 100% for business purposes. Karane generated taxable income in 2022 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. Office furniture Machinery Used delivery truck Total Date Placed in Service 02/03/2021 07/22/2021 08/17/2021 Required: a. Compute the maximum 2021 depreciation deductions, including §179 expense (ignoring bonus depreciation). Cost S 150,000 1,560,000 40,000 S 1,750,000 Cost $ 400,000 80,000 1,200,000 700,000 S Date Placed in Service 03/31/2022 05/26/2022 08/15/2022 11/13/2022 Answer is not complete. MACRS Basis §179 Expense 0 Current MACRS Depreciation Total Cost Recovery Deduction 150,000 $ 150,000 $ 150,000 S 1,020,000 X 40,000 132,246 X 132,246 12,800 12,800 $ 1,210,000 S 295,046 S 295,046

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Heres the table showing the MACRS basis cost 179 expense current MACRS depreciation total cost recovery and deduction for each asset Description Cost ... View the full answer