I am trying to calculate the NOPAT for this income statement. However, I am not

Question

I am trying to calculate the NOPAT for this income statement. However, I am not sure how to find the tax rate to plug into my formula, NOPAT = EBIT x (1 - Corporate Tax Rate). Would you please explain to me how to find the corporate tax rate? Thanks!

SMG Industries Balance Sheets ($ in millions) December December Liabilities and December December 31, 2012 31, 2011 Stockholders' Equity 31, 2012 31, 201 Assets Cash Marketable $3500 3,000 Accounts payable $3,600 3,500 4,200 1,300 4,800 1,200 Notes payable securities 3,800 3,200 Accruals Total current liabilities $9.600 $9,000 $6,000 $6,000 Accounts receivable 4,000 3,800 Long-term debt Inventories 9004800 Common stock $11,000 $11,000 6400 5.800 $17400 $16.800 stockholders' equity $33,000 $31.800 Retained earnings Total current assets Gross fixed assets $16.200 4800 Total stockholders' equity $31,500 $30,100 Total liabilities and Less: Accumulated 13,100 Net fixed 516800 17000 Total assets $33.000 $31.800

Explanation / Answer

This would require the income statement

Tax % = 1 - Profit after tax/Profit before tax (Profit before tax is also referred as Earnings Before tax and Profit after tax is the net income

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