Whitney Corporation acquires Jessamine Corporation. Prior to the merger, Jessamine accumulated a $12,000,000 NOL. After the reorganization, Whitney generates $30,000,000 of taxable income. Whitney is subject to a marginal state and Federal tax rate of 25%; the 382 limitation does not apply.

How much does Whitney Corporation save in Federal income taxes by being able to utilize Jessamines NOL carryover?