You are planning to structure the acquisition as a partnership with two other investors using the most favorable financing option. You are the general partner and plan to contribute 20% of the required equity. The remaining equity will be divided equally between the two limited partnersBill Jones and Mary Smith. The distributions will be structured differently. Bill wants current income while Mary wants capital appreciation. You propose to give Bill a 9% cumulative preferred return on all operating year cash flows plus 60% of any excess cash. Any unpaid return will accumulate at 10% per year. Mr. Jones will receive 20% of the BTCF from the sale of the property. Mary Smith is willing to forego current income in exchange for 50% before tax cash flow from the sale of the property. The general partner must cover any assessments and receives all residual distributions. What are the expected partnership returns? Is this structure appropriate for the three equity positions? Why or why not? If not, suggest a more equitably structured partnership agreement.