Ramco Tooling purchased new equipment on January 1, Year 1 for $100,000. In Year 1, Ramco took $20,000 in Sec. 179 expense on the equipment and $40,000 in bonus depreciation on the equipment. In addition, it took $15,000 in regular MACRS depreciation on the equipment in Year 1. For book purposes, Ramco estimates the useful life of the equipment is 5 years and uses straight-line depreciation.

	I.	$0
	II.	$5,000
	III.	$55,000
	IV.	$75,000
	V.	None of the above