Different types of discounts are often used in determining the ultimate value of a partnership interest. Your client, Bill, has read about these discounts in the Wall Street Journal. He is thinking about forming a family limited partnership to which 40% of Bills ownership in real estate will be contributed with the other 60% ownership of the real estate to be given to a generation-skipping trust he and his wife are creating for their grandchildren, nieces, and nephews. Bill wants to know which discounts he may be able to take advantage of when he starts giving limited partnership interests to his children. Which of the following is a discount that may be relevant to calculating the value to any gifts Bill makes in the future of limited partnership interests?

a.lack of marketability discount

b.minority interest discount

c. fractionalized discount

d. lock-in discount

e. all of the above

f. none of the above