16. In 2006, the Sykes Company wrote off a $100,000 debt from a major customer; lost $1,250,000 when a foreign country devalued its currency; gained $2,000,000 when a manufacturing plant was destroyed by a flood; lost $500,000 on the early retirement of its long-term bonds; and lost $75,000 on the sale of stock from its investment portfolio. What amount of extraordinary items (before income taxes) will Sykes report in 2006?

a.	$250,000
b.	$175,000
c.	$2,000,000 CORRECT
d.	$1,425,000