Lehman Brothers Financial SA (LEHNQ)

[sidedraft]

The federal corporate tax rate for 2019 is 21%.

https://taxfoundation.org/us-corporate-income-tax-more-competitive/

If you had a taxable amount of 100 million, then your tax would be 21 million. If that company could acquire 100 million in NOLs, for anything less than 21 million, they done good. So the question becomes, how close to 21 million would the corporation be willing to pay?

Paying 21% for the NOLs would be a profit of ZERO, so 21% is out of the question. But 5% would be a brother-in-law deal, so that's out. So my guess as to a good price would be, between 13% and 18%.