Compute NOPAT Using Tax Rates from Tax Footnote The income statement for The TJX Companies, Inc., follows THE TJX COMPANIES, INC. Consolidated Statements of Income Fiscal Year Ended ($ thousands) Net sales Cost of sales, including buying and occupancy costs Selling, general and administrative expenses Provision (credit) for computer intrusion related costs Interest expense (revenue), net Income from continuing operations before provision for income taxes Provision for income taxes Income from continuing operations Gain/(loss) from discontinued operations, net of income taxes Net income January 29, 2005 $14,913,483 11,398,656 2,500,119 25,757 988,951 379,252 609,699 $609,699 U.S. federal statutory income tax rate Effective state income tax rate Impact of foreign operation All other Worldwide effective income tax rate 35.0% 4.3% -0.4% -0.4% 38.5% a. Compute TJX's 2004 statutory tax rate using its income tax footnote disclosure Round answer to one decimal place (ex: 0.2345-23.5%) b. Compute TJX's NOPAT for fiscal year 2004 using its tax rate from part a Round to the nearest whole number $615,928 Check