Question: Which statement below is correct? ( select ONE only ) Real property is depreciated using the half - year convention. Residential real estate is depreciated

Which statement below is correct? (select ONE only)
Real property is depreciated using the half-year convention.
Residential real estate is depreciated over a 39-year life for tax purposes
When using MACRS depreciation, salvage value is subtracted from the cost of the asset before calculating the deroeciation.
Nonresidential real property placed in service in 2024 is depreciated over a 39 year life

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