My turn for the dumb question.
Lets say the cap is $100m
They spend $75m in Year 1, so roll over the max of $20m.
The cap stays the same in year 2 (for ease), of $100m. So now the have $120m to spend in y2.
They still are being cheapskates, so only spend $75m.
Can they now roll over 20% of...