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The following additional facts pertain to the transaction: The Footwear Division qualifies as a...

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Accounting

The following additional facts pertain to the transaction:
The Footwear Division qualifies as a component of the entity according to GAAP regarding discontinued operations.
The book value of Footwear's assets totaled $48 million on the date of the sale.
Footwear's operating income was a pre-tax loss of $10 million in 2024.
Foxtrot's income tax rate is 25%.
In the income statement for the year ended December 31,2024, Foxtrot Company would report income from discontinued operations of: (show work that gets to the answer)
Multiple Choice
$16.5 million.
$24.5 million.
$22.0 million.
$14.0 million.

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