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. . Which of the following best explains why the taxes on discontinued operations are reported separately from taxes on continuing operations? Multiple Choice The tax rate applied to discontinued operations typically is lower than that applied to continuing operations, The taxes on discontinued operations are not expected to recur in future years. The tax rate applied to discontinued operations typically is higher than that applied to continuing operations Companies are allowed to delay tax payments for discontinued operations for up to five years. In a recent annual report, Apple Computer reported the following in one of its disclosure notes: "Warranty Expense: The Company provides currently for the estimated cost for product warranties at the time the related revenue is recognized." This note exemplifies Apple's use of Conservatism I Matching Revenue recognition Economic entity On November 1, 2021. Taylor signed a one-year contract to provide handyman services on an as needed basis to King Associates, with the contract to start immediately, King agreed to pay Taylor $4.920 for the one-year period. Taylor is confident that King will pay that amount, but payment is not scheduled to occur until 2022. Taylor should recognize revenue in 2021 in the amount of $4,920 $2.460. $0 $820