On May 1, Rat Race Co. agreed to sell the assets of its Footwear Division to Mikes Inc. for $80 million. The sale was completed on December 31, 2015. The following additional facts pertain to the transaction:

• 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 pretax loss of $10 million in 2015.
• Rat Race's income tax rate is 40%.

In the 2015 income statement for Rat Race Co., it would report income from discontinued operations of

A.$13.2 million.

B.$22 million.

C.$26 million.

D.$9.2 million.