Which of the following statements is not correct with respect to an asset with a five-year life owned by a company that uses straight-line depreciation and the half-year convention?
- It will have the same depreciation expense in the first and last years.
- It will be depreciated over six accounting years.
- It will have a book value that exceeds its salvage value at the end of its economic life.
- It will have a smaller depreciation expense in Year 4 than it does in Year 2.