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Swifty Inc. disposes of an unprofitable segment of its business. The operation of the segment suffered a $191000 loss in the year of disposal. The

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Swifty Inc. disposes of an unprofitable segment of its business. The operation of the segment suffered a $191000 loss in the year of disposal. The loss on disposal of the segment was $103000. If the tax rate is 20%, and income before income taxes was $1600000, the losses from discontinued operations are reported net of income taxes at $294000. net income is $1306000. the income tax expense on the income before discontinued operations is $352800. the income from continuing operations is $1280000

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