Dains Diamond Bit Drilling purchased the following assets this year.

	Purchase	Original
Asset	Date	Basis
Drill bits (5-year)	Mar-19	$	127,500
Drill bits (5-year)	Sep-20		138,750
Commercial building	Jun-22		311,000

Assume its taxable income for the year was $74,250 before deducting any 179 expense (assume no bonus depreciation). (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)

What is the maximum amount of 179 expense Dain may deduct for the year?

What is Dains maximum depreciation expense for the year (including 179 expense)?