TAB1. 3 Resideatial Rental Property Mid-Moath Convention Straight Line - 27.5 Years TABIL 2d MACRS-MFid Quarter Convention: For properny placed in service during the fowrth quarter Table 1 MACRS Half-Year Convention Required information Problem 10-59 (LO 10-2, LO 10-3) (Static) [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 $179 expense (assume no bonus depreciation). (Use MACRS Table I Table 2. Table 3. Table 4, and Table 5.) Note: Leave no answer blank. Enter zero if applicable. Problem 10-59 Part a (Static) a. What is the maximum amount of $179 expense Dain's may deduct for the year