Can someone please help me with a few technical questions? Thanks

1. Walk me through what happens in a Stock Purchase deal where the Buyer pays Equity Purchase Price of $2bn for the Seller, and the Seller has an off-BS NOL balance of $500mm that expire in 5 years.

Assume the Long-Term Adjusted Rates for the past 3 months were 2%,3%, and 4%, and the Buyer's Tax Rate is 40%. How do these numbers change in an asset purchase?

2. How to answer interview question of how to treat NOLs on the IS? Do you figure out pre-tax income, deduct applicable NOL balance to find NOL-adjusted pretax income, multiply by tax rate to find cash taxes payable and then deduct used NOL balance to find final NOL balance?

Also, is it common that these questions will  be asked in interview? Thx

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