With respect to the half-year MACRS depreciation convention, which of these statements isnotcorrect.

Multiple Choice

• If an asset is disposed of before it is fully depreciated, only one-half of the table's applicable depreciation percentage is allowed in the year of disposition.
• All of these statements areincorrect.
• IRS depreciation tables automatically account for the half-year convention in year of purchase and disposition.
• None. All of these statements are correct.
• One-half of a full year's depreciation is allowed in first and last year of an asset's life.