Which One of These Statements Related to MACRS Depreciation Is

Which one of these statements related to MACRS depreciation is correct?

A) The MACRS percentages in the IRS tables are applied to the current book value of an asset each year.
B) The MACRS system of depreciation was eliminated by the IRS in 2012.
C) An asset will be depreciated faster using MACRS rather than the straight-line method.
D) An asset classified as 3-year MACRS property will be fully depreciated at the end of Year 3.
E) All newly acquired property is considered to be placed in service at the start of the year for MACRS purposes.