The Meredith Whitney Case Scenario: Please present the discount factor!!! I was so frustrated when thinking of calculate the all discount factors. I actually gave up #8, #10 and #11. #30: Without mentioning the distribution waterfall, I don’t think you can calculate the carried interest for GP. It is possible the GP earned some carried interest if the investment value exceed a certain threshold (15% or 20%). #46: Not sure how many people chose A, but I deduct minority interest from shareholder’s equity.