QUESTION 10 The depreciation amount is not directly included in CFAT, but depreciation is directly involved in the _____ calculation. OI. Gross Income O II. Net Income after Tax III. Taxable income IV. Operating Expense QUESTION 11 MACRS depreciation rates extend 1 year beyond the recovery period because of Ol. Usage of asset II. Half-year convention III. Asset depreciation IV. Recovery period QUESTION 12 MACRS depreciation rates always write-off the asset's value to ____ 1. Zero II. Resale Value III. Any value over the resale value IV. Book Value