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20 ! Part 2 of 2 2 points 00:57:33 Skipped Required information [The following information applies to the questions displayed below.] Dain's Diamond Bit
20 ! Part 2 of 2 2 points 00:57:33 Skipped Required information [The following information applies to the questions displayed below.] Dain's Diamond Bit Drilling purchased the following assets this year. Check my work Asset Drill bits (5-year) Drill bits (5-year) Commercial building Purchase Date 25-Jan 25-Jul Original Basis $ 91,700 22-Apr 96,700 254,000 Assume its taxable income for the year was $70,000 for purposes of computing the 179 expense (assume no bonus depreciation). (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Leave no answer blank. Enter zero if applicable.) eBook Print References b. What is Dain's maximum depreciation deduction for the year (including $179 expense)? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Depreciation Deduction (including $179 expense)
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