The Modified Accelerated Cost Recovery System (MACRS)utilizes a half-year convention in calculating depreciation expense regardless of the asset purchase date.

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The statement is true. MACRS uses the half-year convention, which assumes that an asset is placed in service halfway through the year it was purchased in, regardless of its actual purchase date. This means that the depreciation expense is calculated based on a half-year, even if the asset was purchased on the first or last day of the year.

The Modified Accelerated Cost Recovery System (MACRS)utilizes a Half-Year Convention