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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
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 $78,000 for purposes of computing the $179 expense (assume no bonus depreciation). (Use MACRS Table 1,:Table 2: Table 3, Table 4, and Note: Leave no answer blank. Entr zeerio 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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