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Required information [The following information applies to the questions displayed below.] Dain's Diamond Bit Drilling purchased the following assets this year. Assume its taxable income

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Required information [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 $53,000 for purposes of computing the 5179 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. 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

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