Big Money Inc. has sold its distribution division in the current year. Big Money has a $120,000 loss from operation of the distribution division and a gain on sale of the division's assets of $40,000. Assuming Big Money has a tax rate of 30%, the results from discontinued operations reported on Big Money's income statement is

loss of $80,000.

loss of $84,000.

loss of $44,000.

loss of $56,000.