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20. Jaden Enterprises, Inc. has a division that has been unprofitable, and on November 15, 2016, adopts a formal plan to sell the division. The sale was completed on April 30, 2017. At December 31, 2016, the component was considered held for sale. On December 31, 2016, the book value of the horse division was $250,000. The fair value of the assets, less costs to sell, was $200,000. The before-tax loss from operating the division for the year was $140,000. The income tax rate is 40%. How much should Jaden report for income or loss from discontinued operations?8
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