d. $1,500,000 e. $3,000,000 7. Which of the following is true regarding depreciation for Qualified Improvement Property (QIP)? a. Uses a 15-year recovery period, a straight-line method, and half-year convention. b. Uses a 15-year recovery period, a straight-line method, and mid-quarter convention. c. Uses a 15-year recovery period, a straight-line method, and either the half-year or mid-quarter convention, as applicable. d. Uses a 15-year recovery period, a straight-line method, and mid-month convention. e. Uses a 39-year recovery period, a straight-line method, and either the half-year or mid-quarter convention, as applicable