On December 31, 2024, the end of the fiscal year, California Microtech Corporation held its semiconductor business for sale at year-end. The estimated fair value of the segments assets, less costs to sell, on December 31 was $11 million. The semiconductor business segment qualifies as a component of the entity according to GAAP. Consider the following additional information.

The book value of the assets of the segment at the time of the sale was $8 million.

The loss from operations of the segment during 2024 was $4.6 million.

Pretax income from other continuing operations for the year totaled $7.6 million.

The income tax rate is 25%.

CALIFORNIA MICROTECH CORPORATION Partial Income Statement For the Year Ended December 31, 2024 Income from continuing operations before income taxes Income from continuing operations Discontinued operations