Bill, Sam and Jim form an equal 3-person partnership BSJ by contributing $250,000 each. BSJ purchases machinery for $750,000. The machinery has a tax depreciable life of 10 years straight line, and all depreciation is allocated to Bill. Capital accounts are maintained in accordance with IRC section 704(b). Liquidations are made in accordance with the positive balances of the capital accounts of each partner. Partners are required to restore deficit capital accounts to zero upon liquidation. Income not counting depreciation. on the machinery is $75,000 per year. a. Is the special allocation of depreciation valid in year 1? Why? b. If the special allocation of depreciation was not valid, how would the depreciation be allocated among the partners? c. If the partnership were liquidated after year 3, how much would each. partners get? Why? d. If the partnership were liquidated after year 4, how much would each. partners get? Why