Dains Diamond Bit Drilling purchased the following assets this year. Purchase Original Asset Date Basis Drill bits (5-year) January 25 $ 110,500 Drill bits (5-year) July 25 118,750 Commercial building April 22 306,000 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?