rk Check My Work button is now enabled Item $1$Required informationRequired informationSkip to question$[$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 $2022$:AssetCostDate Placed in ServiceOffice furniture$ $150,00002/03/2022$Machinery$1,560,00007/22/2022$Used delivery truck$*$Note:$40,00008/17/2022*$Note: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 $2023$:AssetCostDate Placed in ServiceComputers and information system$ $400,00003/31/2023$Luxury auto$*$Note:$80,00005/26/2023$Assembly equipment$1,200,00008/15/2023$Storage building$700,00011/13/2023*$Note:Used $100\%$ for business purposes.Karane generated taxable income in $2023$ 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.