false. MACRS provides a cost recovery deduction for each year of a fixed recovery period. [Choose] ( Choose For 5-year-recovery-period property placed in service this year, the recovery method is generally the double-declining-balance method with a later switch to the straight- line method. The half-year convention is used for all recovery classes of property. [Choose) Choose] Land is a depreciable asset as long as the period of ownership by the taxpayer can be estimated. Question 5