05-31-2022, 08:47 PM
(05-31-2022, 08:08 PM)loki Wrote: Unless the CBA FAQ hasn't been updated (or I'm losing my mind) I see the first $20mm over costing $45mm in tax and the next $5mm costing another $18.75mm in tax ($63.75mm total rather than 96).
Yeah, I missed the incremental maximums. I came up with $66.25mm, but either way, much closer to your number than my original number.
The arbitrage still exists, just not to the extent I envisioned.