Which one of the following statements about a limited partnership is correct?

a. all partners have their losses limited to their capital investment in the partnership.
b. all partners are treated equally.
c. there must be at least one general partner.
d. equity financing is easy to obtain and unlimited.
e. any partner can transfer his or her ownership interest without ending the partnership.

You are evaluating two different silicon wafer milling machines. the techron i costs $285,000, has a three-year life, and has pretax operating costs of $78,000 per year. the techron ii costs $495,000, has a five-year life, and has pretax operating costs of $45,000 per year. for both milling machines, use straight-line depreciation to zero over the project’s life and assume a salvage value of $55,000. if your tax rate is 24 percent and your discount rate is 11 percent, compute the eac for both machines.