Dains Diamond Bit Drilling purchased the following assets this year.

	Purchase	Original
Asset	Date	Basis
Drill bits (5-year)	Jan-13	$	130,500
Drill bits (5-year)	Sep-01		149,750
Commercial building	May-27		234,000

Assume its taxable income for the year was $61,500 before deducting any 179 expense (assume no bonus depreciation). (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)

a. What is the maximum amount of S179 expense Dain may deduct for the year? 179 expense