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Indicate whether the following statements are true or false regarding the half-year convention. Depreciation can be claimed for the entire year if the asset has

Indicate whether the following statements are true or false regarding the half-year convention.

Depreciation can be claimed for the entire year if the asset has been in service for more than six months.

The half-year convention applies to all property placed in service during the year.

The half-year convention applies both in the year of acquisition and the year of disposition of the asset.

The convention must be considered when expensing an asset under Code 179.

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