Please explain the math and used 2019 thresholds (I.e. $2,550,000 and $1,020,000). The answer I have placed in the box might be the right answer, but I am unsure.

Required information [The following information applies to the questions displayed below.] Dain's Diamond Bit Drilling purchased the following assets this year. Purchase Original Basis $ 97,000 Asset Drill bits (5-year) Drill bits (5-year) Commercial building Date Jan-05 Sep-02 May-10 110,500 246,000 Assume its taxable income for the year was $44,000 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.) b. What is Dain's maximum depreciation deduction for the year (including $179 expense)? (Round your intermediate calculations to the nearest whole dollar amount.) 44,742 Depreciation expense (including $179 expense) $ TABLE 1 MACRS Half-Yoar Convention Depreciation Rate for Recovery Period 3-Year Year 5-Year 7-Year 10-Year 15-Year 20-Year 14.29% 5.00% 1 33.33% 20.00% 10.00% 3.750% 2 44.45 32.00 24.49 9.50 7.219 8.00 6.677 14.81 19.20 17.49 14.40 S.55 11.52 7.41 11.52 12.49 7.70 6.177 4 9.22 5.713 5 11.52 S.93 6.93 6.23 6 5.76 S.92 7.37 5.285 7 S.93 6.55 5.90 4.888 4.46 4.522 S 6.55 5.90 4.462 6.56 5.91 4.461 10 6.55 5.90 4.462 3.28 5.91 11 4.461 5.90 12 4.462 13 5.91 4.461 14 5.90 5.91 15 4.462 4.461 2.95 16 17 4.462 4.461 19 4.462 20 4.461 2.231 21 TABLE 2 MACRS Mid-Quarter Convention: For property placed in service during the first quarter Depreciation Rate for Recovery Period Year 5-Year 7-Year 25.00% 1 35.00% 2 26.00 21.43 3 15.60 15.3 4 11.01 10.93 5 11.01 S.75 1.38 S.74 7 8.75 1.09 S TABLE 2b MACRS Mid-Quarter Convention: For property placed in service during the second quarter Depreciation Rate for Recovery Period Year 5-Year 7-Year 17.85% 25.00% 2 30.00 23.47 3 S.00 16.76 4 11.37 11.97 11.37 8.S7 4.26 8.87 6 7 S.S7 3.34 TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during the third quarter Depreciation Rate for Recovery Period 5-Year Year 7-Year 15.00% 10.71% 25.51 2 34.00 20.40 18.22 12.24 4 13.02 5 11.30 9.30 6 7.06 S.S5 7 8.S6 5.53 TABLE 2d MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 3.57% 5.00% 2 38.00 27.55 22.S0 19.68 4 13.68 14.06 5 10.94 10.04 9.58 8.73 6 7 S.73 S 7.64 TABLE 3 Residential Rental Property Mid-Month Convention Straight Line-27.5 Years Month Property Placed in Service 5 7 12 Year 2 3 4 6 9 10 11 3.485% 1.364% 1.061% 0.758% 3.182% 2.S79% 2.576% 2.273% 1.970% 1.667% 0.455% 0.152% 1 2-9 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 10 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 11 3.637 3.636 3.636 12 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 13 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 14 3.637 3.637 3.636 3.636 3.636 3.636 15 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 16 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3,636 3.636 3.637 3.637 17 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 18 3.637 3.637 3.636 3.636 3.636 3.637 3.637 3.637 19 3.636 3.636 3.636 3.636 3.637 3,637 3.637 3.637 20 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 21 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 22 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.637 23 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 24 3.637 3,637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.637 25 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 26 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 27 3.636 3.636 3.636 3.636 3.636 3.637 3.637 2.273 1.97 3.636 3.636 28 2.576 2.879 3.182 3.485 3.636 3.636 3.636 3.636 29 0.152 0.455 0.758 1.06 1.364 1.667 TABLE 4 Nonresidential Real Property Mid-Month Convention Straight Line-31.5 Years (for assets placed in service before May 13,1993) Month Property Placed in Service Year 1 3 4 6 7 10 11 12 1.720% 3.042% 2.778% 2.513% 2.249% 1.984% 1455% 1.190% 0.926% 0.661% 0.397% 0.132% 3.175 3.175 2-7 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.174 3.174 3.175 3.175 3.175 3.175 3.174 3.175 3.175 3.175 3.175 3.174 9 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.175 10 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.174 3.175 3.175 3.174 3.175 11 3.174 3.174 3.175 12 3.175 3.174 3,175 3.175 3.174 3.175 3.174 3.175 3.174 3.174 3.174 13 3.174 3.175 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.175 3.174 3.175 3.175 3.174 3.175 3.174 3.175 3.174 14 3.175 3.174 3.174 15 3.175 3.175 3.174 3.174 3.175 3.174 3.174 3.175 3.175 3.174 3.175 3.174 3.174 3.175 3.175 3.175 3.174 3.175 3.175 16 3.175 3.174 3.174 3.174 3.174 17 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.175 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.174 19 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 20 3.175 3.175 3.175 3.174 3.175 3.174 3.174 3.175 3.175 3.174 3.175 21 3.174 3.174 3.175 3.175 3.174 3.174 3.175 3.175 3.174 3.174 3.174 3.175 3.175 3.174 3.174 22 3.175 3.175 3.174 3.175 3.175 3.174 3.174 3.175 3.175 3.175 23 3.174 3.175 3.174 3.115 3.174 3.174 3.175 3.174 3.175 3.175 3.174 24 3.175 3.174 3.174 3.174 3.175 3.175 3.174 3.175 3.175 25 3.174 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.175 3.174 3.175 26 3.175 3.174 3.174 3.175 3.174 3.175 3.175 3.174 3.174 3.175 3.175 27 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.174 3.175 3.174 28 3.175 3.174 3.175 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 29 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.175 3.175 3.174 3.175 3.174 3.175 3.175 30 3.174 3.174 3.175 3.174 3.174 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 31 3.175 3.174 3.175 3.175 3.174 32 1.720 1.984 2.249 2.513 2.778 3.042 3.175 3.174 3.175 3.175 3.174 33 0.132 0.397 0.661 0.926 1.190 1.455 TABLE 5 Nonresidential Real Property Mid-Month Convention Straight Line-39 Years (for assets placed in service on or after May 13, 1993) Month Property Placed in Service 10 12 Year 2 3 7 1 6 11 2.461% 2.247% 1.819% 1.605% 1.391% 0.963% 0.749% 0.535% 0.321% 0.107% 2.033% 1.177% 1 2.564 2.564 2.564 2.564 2.564 2.564 2.564 2-39 2.564 2.564 2.564 2.564 2.564 40 0.107 0.749 1.391 1.819 0.321 0.535 0.963 1.177 1.605 2.033 2.247 2.461 Required information [The following information applies to the questions displayed below.] Dain's Diamond Bit Drilling purchased the following assets this year. Purchase Original Basis $ 97,000 Asset Drill bits (5-year) Drill bits (5-year) Commercial building Date Jan-05 Sep-02 May-10 110,500 246,000 Assume its taxable income for the year was $44,000 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.) b. What is Dain's maximum depreciation deduction for the year (including $179 expense)? (Round your intermediate calculations to the nearest whole dollar amount.) 44,742 Depreciation expense (including $179 expense) $ TABLE 1 MACRS Half-Yoar Convention Depreciation Rate for Recovery Period 3-Year Year 5-Year 7-Year 10-Year 15-Year 20-Year 14.29% 5.00% 1 33.33% 20.00% 10.00% 3.750% 2 44.45 32.00 24.49 9.50 7.219 8.00 6.677 14.81 19.20 17.49 14.40 S.55 11.52 7.41 11.52 12.49 7.70 6.177 4 9.22 5.713 5 11.52 S.93 6.93 6.23 6 5.76 S.92 7.37 5.285 7 S.93 6.55 5.90 4.888 4.46 4.522 S 6.55 5.90 4.462 6.56 5.91 4.461 10 6.55 5.90 4.462 3.28 5.91 11 4.461 5.90 12 4.462 13 5.91 4.461 14 5.90 5.91 15 4.462 4.461 2.95 16 17 4.462 4.461 19 4.462 20 4.461 2.231 21 TABLE 2 MACRS Mid-Quarter Convention: For property placed in service during the first quarter Depreciation Rate for Recovery Period Year 5-Year 7-Year 25.00% 1 35.00% 2 26.00 21.43 3 15.60 15.3 4 11.01 10.93 5 11.01 S.75 1.38 S.74 7 8.75 1.09 S TABLE 2b MACRS Mid-Quarter Convention: For property placed in service during the second quarter Depreciation Rate for Recovery Period Year 5-Year 7-Year 17.85% 25.00% 2 30.00 23.47 3 S.00 16.76 4 11.37 11.97 11.37 8.S7 4.26 8.87 6 7 S.S7 3.34 TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during the third quarter Depreciation Rate for Recovery Period 5-Year Year 7-Year 15.00% 10.71% 25.51 2 34.00 20.40 18.22 12.24 4 13.02 5 11.30 9.30 6 7.06 S.S5 7 8.S6 5.53 TABLE 2d MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 3.57% 5.00% 2 38.00 27.55 22.S0 19.68 4 13.68 14.06 5 10.94 10.04 9.58 8.73 6 7 S.73 S 7.64 TABLE 3 Residential Rental Property Mid-Month Convention Straight Line-27.5 Years Month Property Placed in Service 5 7 12 Year 2 3 4 6 9 10 11 3.485% 1.364% 1.061% 0.758% 3.182% 2.S79% 2.576% 2.273% 1.970% 1.667% 0.455% 0.152% 1 2-9 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 10 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 11 3.637 3.636 3.636 12 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 13 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 14 3.637 3.637 3.636 3.636 3.636 3.636 15 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 16 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3,636 3.636 3.637 3.637 17 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 18 3.637 3.637 3.636 3.636 3.636 3.637 3.637 3.637 19 3.636 3.636 3.636 3.636 3.637 3,637 3.637 3.637 20 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 21 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 22 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.637 23 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 24 3.637 3,637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.637 25 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 26 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 27 3.636 3.636 3.636 3.636 3.636 3.637 3.637 2.273 1.97 3.636 3.636 28 2.576 2.879 3.182 3.485 3.636 3.636 3.636 3.636 29 0.152 0.455 0.758 1.06 1.364 1.667 TABLE 4 Nonresidential Real Property Mid-Month Convention Straight Line-31.5 Years (for assets placed in service before May 13,1993) Month Property Placed in Service Year 1 3 4 6 7 10 11 12 1.720% 3.042% 2.778% 2.513% 2.249% 1.984% 1455% 1.190% 0.926% 0.661% 0.397% 0.132% 3.175 3.175 2-7 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.174 3.174 3.175 3.175 3.175 3.175 3.174 3.175 3.175 3.175 3.175 3.174 9 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.175 10 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.174 3.175 3.175 3.174 3.175 11 3.174 3.174 3.175 12 3.175 3.174 3,175 3.175 3.174 3.175 3.174 3.175 3.174 3.174 3.174 13 3.174 3.175 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.175 3.174 3.175 3.175 3.174 3.175 3.174 3.175 3.174 14 3.175 3.174 3.174 15 3.175 3.175 3.174 3.174 3.175 3.174 3.174 3.175 3.175 3.174 3.175 3.174 3.174 3.175 3.175 3.175 3.174 3.175 3.175 16 3.175 3.174 3.174 3.174 3.174 17 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.175 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.174 19 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 20 3.175 3.175 3.175 3.174 3.175 3.174 3.174 3.175 3.175 3.174 3.175 21 3.174 3.174 3.175 3.175 3.174 3.174 3.175 3.175 3.174 3.174 3.174 3.175 3.175 3.174 3.174 22 3.175 3.175 3.174 3.175 3.175 3.174 3.174 3.175 3.175 3.175 23 3.174 3.175 3.174 3.115 3.174 3.174 3.175 3.174 3.175 3.175 3.174 24 3.175 3.174 3.174 3.174 3.175 3.175 3.174 3.175 3.175 25 3.174 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.175 3.174 3.175 26 3.175 3.174 3.174 3.175 3.174 3.175 3.175 3.174 3.174 3.175 3.175 27 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.174 3.175 3.174 28 3.175 3.174 3.175 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 29 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.175 3.175 3.174 3.175 3.174 3.175 3.175 30 3.174 3.174 3.175 3.174 3.174 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 31 3.175 3.174 3.175 3.175 3.174 32 1.720 1.984 2.249 2.513 2.778 3.042 3.175 3.174 3.175 3.175 3.174 33 0.132 0.397 0.661 0.926 1.190 1.455 TABLE 5 Nonresidential Real Property Mid-Month Convention Straight Line-39 Years (for assets placed in service on or after May 13, 1993) Month Property Placed in Service 10 12 Year 2 3 7 1 6 11 2.461% 2.247% 1.819% 1.605% 1.391% 0.963% 0.749% 0.535% 0.321% 0.107% 2.033% 1.177% 1 2.564 2.564 2.564 2.564 2.564 2.564 2.564 2-39 2.564 2.564 2.564 2.564 2.564 40 0.107 0.749 1.391 1.819 0.321 0.535 0.963 1.177 1.605 2.033 2.247 2.461