1. Daisy Tree Partnership owns and operates two apartment complexes in the metropolitan area. The first complex was contributed to the partnership by partner L. The other two partners (M and N) contributed cash which, together with borrowed funds, was used to purchase the second complex. The three partners share partnership income, loss, gain and deduction equally. The tax basis and book value of the partnership's assets at the end of the current year are as follows: Tax Book Cash and equivalents $60,000 $60,000 Receivables 45,000 Apartment Complex 1 600,000 1,500,000 Accumulated depreciation, complex 1 (120,000) (300,000) Apartment Complex 2 2,475,000 2,475,000 Accumulated depreciation, complex 2 (180,000) (180,000) Land and other assets 200,000 200,000 Total assets $2,035,000 $4,070,000 a. Assume that the partnership uses the traditional method with curative allocations to make allocations under Code Sec. 704(c). Further assume that complex 1 has a remaining useful life of 8 years for book and tax. Complex 2 has a remaining useful life of 25.5 years. Both are depreciated using the straight line method for both book and tax. Show how book and tax depreciation will be allocated among the partners. b. Does the curative allocation of depreciation on complex 2 from L to M and N completely "cure" the discrepancy caused by the ceiling rule with respect to the allocation of depreciation on complex 1? C. How can the partnership eliminate the remaining discrepancy