QUESTION 27 If a transaction is taxable, target shareholders will demand a higher purchase price to offset the anticipated tax liability. True False QUESTION 28 In a taxable transaction an acquirer can amortize new goodwill over 15 years for tax purposes. True False QUESTION 29 According to Section 338 of the U.S. tax code, a purchaser can acquire 100% of the stock of the target and elect to treat the acquisition for tax purposes as if it were an acquisition of the target's assets. True False QUESTION 30 In a so-called tax-free transaction, the transaction may be partially taxable if the target shareholders receive some nonequity consideration, such as cash or debt, in addition to the acquirer's stock. True False