Which of the following is a case in which tax gains are used as a justification for purchasing another firm?
1) The target firm has access to markets that the bidder wishes to exploit.
2) The target firm has unused net operating losses that can be used by the bidder.
3) The target firm has resources to which the purchaser wants access.
4) The target firm has resources that are complementary to the bidder.
5) The target firm has no unused debt capacity.