1. Which of the following statements is true? a. If software is purchased in connection with the acquisition of a number of assets of an existing trade or business, it will be depreciated over 36 months. b. Property qualifying for Sec. 179 expensing must be purchased for use in an active trade or business or for the production of income. c. Sec. 1245 gain is ordinary income which applies to individuals but not corporations. d. Losses are recognized in involuntary conversions as well as in like-kind exchanges. e. None of the answers provided is correct