Problem 8-8 Modified Accelerated Cost Recovery System (MACRS) (LO 8.2) Complete the paragraph below that explains the use of the mid-quarter convention for MACRS depreciation. When a taxpayer acquires more than of its MACRS depreciable property (other than real estate) during the quarter of the year, the taxpayer must use the mid-quarter-convention-in-calculating depreciation rather than-the-half-year convention. This treatment requires all assets purchased be treated as purchased in the