The IRS requires all firms to use its MACRS (Modified Accelerated Cost Recovery System) when recording depreciation expense for long-lived or fixed assets. MACRS includes pre-designated asset useful lives and accelerated depreciation methods. Congress / the IRS has required the use of MACRS to encourage corporate managers to buy new capital assets more frequently for the benefit of the economy. Explain whether you agree or disagree with the required use of MACRS.