Dain's Diamond Bit Drilling purchased the following assets this year.

Asset	Purchase Date	Original Basis
Drill bits (5-year)	Feb-08	$ 90,100
Drill bits (5-year)	Jul-02	95,100
Commercial building	Apr-27	222,000

Assume its taxable income for the year was $54,000 for purposes of computing the 179 expense (assume no bonus depreciation). (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.)

Note: Leave no answer blank. Enter zero if applicable.

Problem 10-59 Part d (Algo)

d. If the January drill bits' original basis was $4,276,000, what is the maximum amount of 179 expense Dain's may deduct for the year?

Required information Problem 10-59 (LO 10-2, LO 10-3) (Algo) [The following information applies to the questions displayed below.] Dain's Diamond Bit Drilling purchased the following assets this year. Assume its taxable income for the year was $54,000 for purposes of computing the $179 expense (assume no bonus depreciation). (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.) Note: Leave no answer blank. Enter zero if applicable. coblem 10-59 Part d (Algo) If the January drill bits' original basis was $4,276,000, what is the maximum amount of $179 expense Dain's may deduct for the year