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Problem 10-59 Part b (Static)

Dain’s Diamond Bit Drilling purchased the following assets this year. 

 

AssetPurchase DateOriginal Basis
Drill bits (5-year)January 25$ 90,000
Drill bits (5-year)July 2595,000
Commercial buildingApril 22220,000

 

Assume its taxable income for the year was $53,000 for purposes of computing the §179 expense (assume no bonus depreciation). (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)

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

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