Use the Following to Answer Questions

Multiple Choice

Use the following to answer questions
Spectrum Corporation sold its Specialties Division during 2010. The company's accountants determined that the division had a pre-tax loss $770,000 during 2010 prior to disposal. The sale resulted in a $235,000 gain before taxes. The company had neither extraordinary items nor any cumulative accounting adjustments. Spectrum's income from continuing operations for 2010 amounted to $23,460,000. The company's effective tax rate is 38%.
-Spectrum Corporation's net income for 2010 is:

A) $14,213,500
B) $22,925,000
C) $23,128,300
D) $23,256,700