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Problem 10-59 (LO 10-2, LO 10-3) (Algo) [The following information applies to the questions displayed below.] Dain's Diamond Bit Drilling purchased the following assets this

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Problem 10-59 (LO 10-2, LO 10-3) (Algo) [The following information applies to the questions displayed below.] Dain's Diamond Bit Drilling purchased the following assets this year. Assume its taxable income for the year was $75,000 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 February drill bits' original basis was $3,897,000, what is the maximum amount of 179 expense Dain's may deduct for the ear

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