this is my third time posting this question, please complete it corectly.

- 09/16/207:17 PM Homework: Ch 6B, Making Investment Decisions with the NPV F Save Score: 0 of 2 pts 5 of 5 (5 complete) HW Score: 67.31%, 8.75 of 13 pts ia X P8-21 (similar to) Question Help In September 2008, the IRS changed tax laws to allow banks to utilize the tax loss carryforwards of banks they acquire to shield up to 100% of their future income from taxes (prior law restricted the ability of acquirers to use these credits). Suppose Fargo Bank acquired Covia Bank and with it acquired $60 billion in tax loss carryforwards. If Fargo Bank was expected to generate taxable income of $8 billion per year in the future, and its tax rate was 30%, what was the present value of these acquired tax loss carryforwards given a cost of capital of 8%? How would the present value change under current law which restricts the amount of the deduction to 80% of pre-tax income? If Fargo Bank was expected to generate taxable income of $8 billion per year in the future, and its tax rate was 30%, what was the present value of these acquired tax loss carryforwards given a cost of capital of 8%? The present value of these acquired tax loss carryforwards is $billion (Round to two decimal places.) Enter your answer in the answer box and then click Check Answer. Check Answer Clear All 1 part remaining A