Shelley purchased a residential apartment and land for $1,400,000 and placed it in service on September 5. Which of the following statements is true? Shelley is allowed one half-year of MACRS depreciation with respect to the apartment building this year. Shelley can elect to deduct $1,000,000 cost of the building under Section 179. Depreciation on the building is computed under the straight-line method. The residential apartment building will be considered a 3rd quarter asset for the mid-quarter convetion