4. a. Which of the following is true about the MACRS depreciation system? Commercial real estate buildings are depreciated over 39 years using accelerated depreciation. b. No matter when equipment is purchased during the month, it is considered to have been purchased mid-month for MACRS depreciation purposes. No salvage value is used before depreciation percentages are applied to depreciable real estate. Residential rental buildings are depreciated straight-line over 20 years. C. d. 5. Hal is enrolled for one class at a local community college; tuition cost him $190. Hal's AGI is $20,000. Before considering a limitation due to tax liability, Hal can take a lifetime learning credit of: a. b. C. $100 $38 $250 $0 $190 d. e. 6. A taxpayer places a $50,000 5-year recovery period asset in service in 2020. This is the only as placed in service in 2020. Assuming half-year convention, no immediate expensing, what is th adjusted basis of of the assets after applying 2020 bonus depreciation? a. b. C. d. $50,000 None of the above $0 $25,000 $10,000 e