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: