Healy, Inc., reports an effective tax rate in its income tax footnote of 6%. The only reconciling item with regard to the hypothetical tax at 21% is a valuation allowance reversal of negative 15%. Which of the following statements is true concerning comparing Healy's effective tax rate with its competitors, all of whom have an effective tax rate between 20 and 24%? Oa. Healy is likely to be engaged in tax shelter activities. b. Healy's structural effective tax rate is actually quite close to that of its competitors. Oc. Healy earned more cash profits because of its lower effective tax rate. Od. Healy is managing its tax burden in a more efficient manner than its competitors are.