On May 15, 2017, Maloney, Inc. approved a plan to dispose of a segment of its business. It is expected that the sale will occur on February 1, 2018 at a selling price of $400,000. The carrying amount (i.e. book value) of the segment at the date of sale is expected to be $820,000. The segment had actual or estimated operating income or (loss) as follows:

1/1/17 to 5/14/17 $(90,000)

5/15/17 to 12/31/17 $ 70,000

What is the total gain /loss on disposal in the discontinued operations section of the income statement in 2017 assuming a tax rate of 30%?

A) $ 168,000

B) $ 231,000

C) $ 350,000

D) $ 245,000

E) $ 240,000