Claim: Was the following information derived from an example of the Modified Accelerated Cost Recovery System (MACRS) where business office furniture was bought for $10,000 to be used only for the business (7-year property), and it was placed into service on 10-13-13? Is it a part of the way to figure the answer to use the GDS, put the property class as 7-year, date placed in service as 10-13-13 with a recovery period of 7 years, a method and convention of 200%/DB/Half-year and to use the depreciation rate from tables of 1429?
Answer: Yes