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TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during th TABLE 2d MACRS-Mid...

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Accounting

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TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during th TABLE 2d MACRS-Mid Quarter Convention: For property placed in service during th Table 1 MACRS Half-Year Convention Required information The following information applies to the questlons displayed beiow] Dain's Diamond Bit Drilling purchased the following assets this yeat. Assume its taxable income for the yoar was $76,000 for purposes of computing the $179 expense (assume no bonus depreciation). (Use MACRS Table 1, Inbic 2. Table 3, Table 4, and Table 5.) Note: Leave no answer blank. Enter zero if applicable. c. If the January drill bits' original basis was $2.898,000, what is the maximum amount of $179 expense Dain's may deduct for the yeae? TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the TABLE 2b MACRS Mid-Quarter Convention: For property placed in service during the se

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