11

Reed Corporation reports Year 7 sales of $332 million, income before income taxes of 597.8 million and tax expense of $28.7 million if sales are projected to increase by 4% next year, projected tax expense for Year 8 will be: Select one: a. There is not enough information to determine the amount b. $29.8 million c. $26.1 million d. $27.1 million e. $28.7 million