An analyst gathers the following information from a company's notes to the consolidated financial statements:

Item	Year T–1	Year T–2
Income tax using the statutory tax rate	25.0%	25.0%
Effect of tax rates in foreign jurisdictions	2.3%	1.8%
Effect of tax incentives	–0.9%	–0.1%
Withholding taxes	0.1%	0.3%
Effective tax rate	26.5%	27.0%

If there is no change in applicable tax rates, compared to Year T–2, in Year T–1 the company's mix of profits earned most likely: