Which statement below is correct? Real property is depreciated using the half-year convention....

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Accounting

Which statement below is correct?

  1. Real property is depreciated using the half-year convention.

  2. Residential real estate is depreciated over a 39-year life.

  3. One-half month of depreciation is taken for the month that real property is disposed of.

  4. Salvage value is considered in MACRS depreciation.

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