Which of the following statements is true concerning the modified accelerated cost recovery system (MACRS) for the recognition of depreciation expense, for tax purposes?

a. 7-year property will be depreciated more rapidly than 10-year property under the MACRS depreciation method.

b. All of these answer choices are true.

c. Under MACRS more depreciation will be recorded in the second accounting period than in the first accounting period because of the half-year convention.

d. MACRS is used for the determination of depreciation expense that is reported on an income tax return.