In fiscal 2016, snap-on inc. reported a statutory tax rate of 35%, an effective tax rate of 30.5%. income before income tax for 2016 was $801.4 million. what did snap-on report as tax expense (on its income statement) in 2016? a. $166.7 million b. $170.0 million c. $244.4 million d. $184.7 million e. none of the above

Snap on the report as the tax expenses will be $244.427

Explanation:

We have given income before tax in 2016 = $801.4 million

Effective rate tax = 30.5 % = 0.305

We have to find the snap on report as tax expense

Tax expenses is given by

Tax expense

So snap on the report as the tax expenses will be $244.427

answer: e

explanation: