I recently learned about purchase price allocation and I the simple conclusion I reach is that most ETA deals will generate either markedup assets and/or meaningful goodwill since most purchase prices will exceed book value of assets. This in turn leads to meaningful D&A either from the assets or from goodwill. If this is true then I feel like most deals will be able to offset majority of profits with Int Exp and D&A and thus eliminating most tax liability. Am I interpreting the impact of PPA incorrectly? Thanks in advance to the tax savvy searchers out there!