On May 1, Abby Co. agreed to sell the assets of its Casual Wear Division to Topwear Inc. The following additional facts pertain to the transaction: The Casual Wear Division qualifies as a component of the entity according to GAAP regarding discontinued operations. The book value of Casual Wear's assets totaled $33.6 million on December 31, 2021. Casual Wear's operating income was a pre-tax loss of $7 million in 2021. . The income tax rate is 35%. Suppose that the Casual Wear Division's assets had not been sold by December 31, 2021, but were considered held for sale. The fair value of these assets was $28 million at Dec 31, 2021. In the income statement for the year ended Dec 31, 2021, Abby Co. would report discontinued operations of: O $9.18 million loss. O $1.89 million loss. $8.19 million loss. O $10.0 million loss