  We apply degenerate perturbation theory to investigate the effects of
magnetic anisotropy in the magnetic molecule V15. Magnetic anisotropy is
introduced via Dzyaloshinskii-Moriya (DM) interaction in the full Hilbert space
of the system. Our model provides an explanation for the rounding of
transitions in the magnetization as a function of applied field at low
temperature, from which an estimate for the DM interaction is found. We find
that the calculated energy differences of the lowest energy states are
consistent with the available data. Our model also offers a novel explanation
for the hysteretic nature of the time-dependent magnetization data.
