Required information Problem 10-59 (LO 10-2, LO 10-3) (Algo) Skip to question [The following information applies to the questions displayed below.] Dain's Diamond Bit Drilling purchased the following assets this year. Asset Purchase Date Original Basis Drill bits (5-year) January 19 $ 91,500 Drill bits (5-year) August 15 96,500 Commercial building May 12 250,000

Assume its taxable income for the year was $68,000 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.

Problem 10-59 Part b (Algo)

b. What is Dain's maximum depreciation deduction for the year (including 179 expense)? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.