Nessler's reagent is a chemical reagent used for detecting ammonia. In order to understand which formula corresponds to Nessler's reagent, let's examine the provided options:
The correct answer is $K_2HgI_4$, which is the known composition of Nessler's reagent. Nessler's reagent forms a brown precipitate or a yellow coloration in the presence of ammonia, which helps in its detection.
Conclusion: Option $K_2HgI_4$ is the correct choice for the formula of Nessler's reagent, which is used extensively in qualitative analysis for detecting trace amounts of ammonia.