Dain's Diamond Bit Drilling purchased the following assets this year. Asset Original Basis Purchase Date Drill bits (5-year) March 18 $ 90,700 Drill bits (5-year) August 02 95,700 April 20 Commercial building 234,000 Assume its taxable income for the year was $60,000 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. a. What is the maximum amount of $179 expense Dain's may deduct for the year? $179 expense Dain's Diamond Bit Drilling purchased the following assets this year. Asset Drill bits (5-year) Purchase Date March 18 Original Basis $ 90,700 Drill bits (5-year) August 02 April 20 Commercial building 95,700 234,000 Assume its taxable income for the year was $60,000 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. b. What is Dain's maximum depreciation deduction for the year (including $179 expense)? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Depreciation Deduction (including $179 expense) Dain's Diamond Bit Drilling purchased the following assets this year. Asset Original Basis Drill bits (5-year) Drill bits (5-year) Commercial building Purchase Date March 18 $ 90,700 August 02 95,700 April 20 234,000 Assume its taxable income for the year was $60,000 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. c. If the February drill bits' original basis was $2,882,000, what is the maximum amount of $179 expense Dain's may deduct for the year? $179 expense Dain's Diamond Bit Drilling purchased the following assets this year. Asset Drill bits (5-year) Drill bits (5-year) Commercial building Purchase Date March 18 Original Basis $ 90,700 August 02 95,700 April 20 234,000 Assume its taxable income for the year was $60,000 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. d. If the February drill bits' original basis was $3,882,000, what is the maximum amount of $179 expense Dain's may deduct for the year? Maximum 5179 expense