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Dain's Diamond Bit Drilling purchased the following assets this year. Assume its taxable income for the year was $61,000 for purposes of computing the $179

image text in transcribed Dain's Diamond Bit Drilling purchased the following assets this year. Assume its taxable income for the year was $61,000 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. roblem 10-59 Part d (Algo) - If the January drill bits' original basis was $4,283,000, what is the maximum amount of $179 expense Dain's may deduct for the year

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