Which of the following statements is TRUE? Select one:

A. MACRS depreciates assets over a longer useful life than would be expected from the asset.

B. For most assets, MACRS approximates straight-line depreciation.

C. The purpose of MACRS is to increase a company's income tax liability in the early years of a fixed asset's life.

D. MACRS allows for greater depreciation expense in the later years of an asset's life, thus reducing the taxes a company will have to pay during those years.

E. None of the above