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Howard Co.'s 2009 income from continuing operations before income taxes was $280,000. Howard Co. reported a before-tax extraordinary gain of $50,000. All tax items are subject to a 40% tax rate. In its income statement for 2009, Howard Co. would show the following line-item amounts for net income and income tax expense:

A. $198,000 and $112,000.

B. $230,000 and $92,000.

C. $330,000 and $132,000.

D. $198,000 and $79,000.

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