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
Correct Answer:
Verified
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