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Required informotion [The following information applies to the questions displayed below] Dain's Diamond Bit Driling purchased the following assets this year Assume its taxable income
Required informotion [The following information applies to the questions displayed below] Dain's Diamond Bit Driling 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 onswer blank. Enter zero if opplicable. a. What is the maximum amount of 5179 expense Dain's may deduct for the year
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