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The income statement for TJX Companies follows. Assume that the combined federal and state statutory tax rate is 22%. Assume that the combined federal and

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The income statement for TJX Companies follows. Assume that the combined federal and state statutory tax rate is 22%. Assume that the combined federal and state statutory tax rate is 22%. a. Compute NOPAT using the formula: NOPAT = Net income + NNE. b. Compute NOPAT using the formula: NOPAT = NOPBT Tax on operating profit

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