Question 55 of 100 - / 1 View Policies Current Attempt in Progress Sheridaninc, disposes of an unprofitable segment of its business. The operation of the segment suffered a $207000 loss in the year of disposal. The loss on disposal of the segment was $98000. If the tax rate is 30%, and income before income taxes was $1580000, the income tax expense on the income before discontinued operations is $396500. the income from continuing operations is $1106000. net income is $1275000. the losses from discontinued operations are reported net of income taxes at $305000