On May 1, Foxtrot Co. agreed to sell the assets of its Footwear Division to Albanese Inc. for $80 million. The sale was completed on December 31, 2016. The following additional facts pertain to the transaction: ( 8 01:52:51 . 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 2016. Foxtrot's income tax rate is 40%. In the 2016 income statement for Foxtrot Co., it would report income from discontinued operations of: Multiple Choice $9.2 million. $13.2 million. $22 million. $26 million