a. What is the maximum amount of 179 expense Dain's may deduct for the year?

b. What is Dains maximum depreciation deduction for the year (including 179 expense)?

c. If the January drill bits original basis was $2,890,000, what is the maximum amount of 179 expense Dain's may deduct for the year?

d. If the January drill bits original basis was $3,890,000, what is the maximum amount of 179 expense Dain's may deduct for the year?

Dain's Diamond Bit Drilling purchased the following assets this year. Asset Drill bits (5-year) Drill bits (5-year) Commercial building Purchase Date January 19 August 15 May 12 Original Basis $ 91,500 96,500 250,000 Assume its taxable income for the year was $68,000 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.) Dain's Diamond Bit Drilling purchased the following assets this year. Asset Drill bits (5-year) Drill bits (5-year) Commercial building Purchase Date January 19 August 15 May 12 Original Basis $ 91,500 96,500 250,000 Assume its taxable income for the year was $68,000 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.)