Mr Cooper Group Inc (COOP)

[iPrelude]

According to
http://www.sec.gov/Archives/edgar/data/933136/000119312512344418/d392232dex995.htm (see page 16) our worthless stock deduction was 8.37 Billion:


"On March 19, 2012, WMIHC emerged from bankruptcy. Prior to emergence, WMI abandoned the stock of WMB, thereby generating a worthless stock deduction of approximately $8.37 billion which gives rise to an NOL for the current year. Under Section 382 of the Internal Revenue Code, and based on our analysis, we believe that the Company experienced an “ownership change” (generally defined as a greater than 50 percent change (by value) in our equity ownership over a three-year period) on March 19, 2012, and our ability to use our pre-change of control NOLs and other pre-change tax attributes against our post-change income was limited. The Section 382 limitation is applied annually so as to limit the use of our pre-change NOLs to an amount that generally equals the value of our stock immediately before the ownership change multiplied by a designated federal long-term tax-exempt rate. Due to applicable limitations under IRC Section 382 and a reduction of tax attributes due to cancellation of indebtedness, a portion of these NOLs were limited and will expire unused. We believe the total available and utilizable NOL carry forward at March 19, 2012 is expected to be approximately $5.96 billion. These NOLs will begin to expire in 2030. The Company’s ability to utilize the NOLs or realize any benefits related to the NOLs is subject to a number of risks."



So I think the OL should be (8.37/0.35) Billion; this is 23.914 Billion , please correct me if I am wrong

Question to the board,

In the case this OL is monetized this year (please lets focus on this scenario and not others in the answer),

How much should we ask for it (with a reasonable disccount for the buyer, of course)?

Thanks in advance for your answers