Chartered Financial Analyst Level 2
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An analyst gathers the following information about a company's tax disclosures:
| Item | Year T–1 | Year T–2 |
|---|---|---|
| Statutory domestic tax rate | 28% | 30% |
| Effect of tax rates in foreign jurisdictions | 4% | 2% |
| Effect of tax exemptions and other reconciling items | –2% | –2% |
| Effective tax rate | 30% | 30% |
Compared to Year T–2, in Year T–1 the company most likely generated: