Which of the following statements with respect to the depreciation of property under MACRS is incorrect?

a. Under the half-year convention, one-half year of depreciation is allowed in the year the property is placed in service.

b. If a taxpayer elects to use the straight-line method of depreciation for property in the 5-year class, all other five-year class property acquired during the year must also be depreciated using the straight-line method.

c. In some cases, when a taxpayer places a significant amount of property in service during the last quarter of the year, real property must be depreciated using a mid-quarter convention.

d. Real property acquired after 1986 must be depreciated using the straight-line method.

e. The cost of property to which the MACRS rate is applied is not reduced for estimated salvage value.