Sorry, but you can’t really do it on the back of an envelope. If you really want to argue it, and sound like you know what you’re talking about. Put your stuff in an excel model. Run some real numbers, and then get back with us.
30% is higher than 15%, on an envelope or not. 30% is higher than 0%, on an envelope or not.
Run some real numbers, and then get back with us.
I did run real numbers. 30%>0%, 30%>15%.