The semiconductor business of the California Microtech Corporation qualifies as a component of the entity according to GAAP. The book value of the assets of the segment was $16 million. The loss from operations of the segment during 2021 was $4.40 million. Pretax income from continuing operations for the year totaled $7.60 million. The income tax rate is 25%. Assume instead that the estimated fair value of the segments assets, less costs to sell, on December 31 was $13 million rather than $16 million.

X Answer is not complete. CALIFORNIA MICROTECH CORPORATION Partial Income Statement For the Year Ended December 31, 2021 Income from continuing operations before income taxes Income tax expense $ 7,600,000 (1,900,000) $ 5,700,000 (4,400,000) Income from continuing operations Discontinued operations: Loss from operations of discontinued component Income tax benefit Income (loss) on discontinued operations Net income (loss) (4,400,000)