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

Asset	Purchase Date	Original Basis
Drill bits (5-year)	Jan-08	$ 91,400
Drill bits (5-year)	Jul-15	96,400
Commercial building	Apr-13	248,000

Assume its taxable income for the year was $67,000 for purposes of computing the §179 expense (assume no bonus depreciation). 

What is Dain's maximum depreciation deduction for the year (including §179 expense)?
(Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.)

 

Table 1 MACRS Half-Year Convention Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 3-Year 33.33% 44.45 14.81 7.41 Depreciation Rate for Recovery Period 5-Year 20.00% 32.00 19.20 11.52 11.52 5.76 7-Year 10-Year 15-Year 14.29% 10.00% 5.00% 24.49 18.00 9.50 17.49 8.55 12.49 7.70 8.93 6.93 8.92 6.23 8.93 5.90 4.46 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 14.40 11.52 9.22 7.37 6.55 6.55 6.56 6.55 3.28 20-Year 3.750% 7.219 6.677 6.177 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 2.231