Today is July 31, 2020, and Multi Media Inc decided to discontinue publishing their "Print Magazine" division and instead focus only on internet distribution. This decision was made after pre-tax operating losses from the Print Magazine division totaled $ 800,000 in 2019, and pre-tax losses were $ 600,000 from January 1, 2020 through July 31, 2020. Further, Multi Media Inc. projected additional losses of $ 400,000 from August 1, 2020 through December 31, 2020. An investment banker was hired for a fixed price of $ 200,000, payable at the close of a deal. The investment banker indicated that he believed a buyer for the "Print Magazine" division could be found by January 31, 2021. The buyer could be expected to pay $ 4,200,000 for the net assets of the "Print Magazine" division, while the net assets would have a carrying value of $ 5,000,000 at the time of the sale. Assuming that the information above qualifies as a Discontinued Operation in accordance with US GAAP, and that all of the projections are accurate, what is the TOTAL Discontinued Operations that Multi Media will report for the fiscal year ending December 31, 2020? You may assume that Multi Media Inc. pays taxes at a rate of 20%, and has other profitable operations to offset against the losses of the "Print Magazine" Division.

• After Tax Loss of $ 800,000

• Pre-Tax Loss of $ 1,000,000

• After-Tax Loss of $ 1,600,000

• Pre-Tax Loss of $ 2,000,000

• Pre-Tax Loss of $ 2,200,000

• None of the above

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