The Mid-Quarter Convention I.never Applies to Real Estate

Multiple Choice

The mid-quarter convention
I.never applies to real estate.
II.is required when more than 30% of the depreciable basis of certain property is placed into service during the last 3 months of the tax year.
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A) Only statement I is correct.
B) Only statement II is correct.
C) Both statements are correct.
D) Neither statement is correct.