On May 1, Yellowstone Co. agreed to sell the assets of its Footwear Division to Everglades Inc. for $80 million. The sale was completed on December 31, 2021. 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 pre-tax loss of $10 million in 2021. Foxtrot's income tax rate is 30%. . In the income statement for the year ended December 31, 2021, Yellowstone Co. would report income from discontinued operations of Multiple Choice O $15.4 million $(7.0) million $220 million $22.4 million