Dains Diamond Bit Drilling purchased the following assets this year.

Asset	Purchase Date	Original Basis
Drill bits (5-year)	February 13	$ 90,400
Drill bits (5-year)	August 25	95,400
Commercial building	May 22	228,000

Assume its taxable income for the year was $57,000 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.)

Problem 10-59 Part a (Algo)

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