The MACRS basis of 5-year property acquired on December 3, 20X1 is $10,000. The property is sold on September 4, 20X2. If the mid-quarter convention applies to personal property acquired in 20X1 and regular (accelerated) MACRS is used, the correct calculation of depreciation expense for 20X2 is: $10,000 x 38%. $10,000 x 38% x 1/2. $10,000 x 38% x 7.5 1/2. $10,000 x 38% x 9.5 1/2. $10,000 x 38% x 8.5 1/2.