Compute NOPAT Using Tax Rates from Tax Footnote The income statement for TJX Companies follows. THE TJX COMPANIES, INC. Consolidated Statements of Income Fiscal Year Ended ($ thousands) January 30, 2016 Net sales $30,944,938 Cost of sales, including buying and occupancy costs 22,034,523 Selling, general and administrative expenses 5,205,715 Interest expense, net 46,400 Income before provision for income taxes 3,658,300 Provision for income taxes 1,380,642 Net income $ 2,277,658 U.S. federal statutory income tax rate 35.0% Effective state income tax rate 3.5% Impact of foreign operation -0.7% All other -0.1% Worldwide effective income tax rate 37.7% a. Compute TJX's fiscal year 2015 statutory tax rate using its income tax footnote disclosure. Round answer to one decimal place .