Discussion Question 8-6 (LO. 2) Complete the following regarding statements regarding the Mid-Quarter Convention and how the multiplying factor is applied Enter numerical values as a decimal to one decimal place, if required (i.e. 8.5) If more than 40% of the value of property, other than eligible real estate property V is placed in service during the last quarter of the year, the mid-quarter convention applies. Based on when the asset is placed in service, the first quarter is allowed is allowed fourth quarter is allowed x months of cost recovery; the second quarter X months of cost recovery; the third quarter is allowed X months of cost recovery; and, the x months of cost recovery Feedback Check My Work If more than 40% of the value of property, with some exceptions, is placed in service during this time of the year, mid-quarter convention applies