Some limited partnerships have SEC filing requirements because of selling partnership units or debt securities to the public. One such partnership was Fairfield Inn By Marriott Limited Partner- ship, which had a series of filings from January 1998 to May 2006. Using the SECs EDGAR (www.sec.gov), obtain the annual report for this limited partnership for the year ended December 31, 2003, which was filed on May 14, 2004.

Required

Answer each of the following questions from the information you obtain by analyzing the 10-K of Fairfield Inn By Marriott Limited Partnership.

a. Describe the formation of the partnership, including the date of formation and the purpose for the limited partnership.

b. Who was the initial general partner? What was the general partners initial percentage interest in the partnership? And who was general partner as of December 31, 2003?

c. What was the general partners profit percentage? What economic reasons might the general partner have had for investing in this partnership