ABC Company reports income before income taxes of $2,400,000 and had an extra-ordinary loss of $800,000. If the tax rate is 30%,

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The income before the extraordinary item can be calculated as ($2,400,000 - $800,000) = $1,600,000. And the income after considering the tax effect of the extraordinary loss would be ($1,600,000 - 0.3 * $800,000) = $1,680,000. Therefore, option C is the correct answer. Option A is incorrect because it doesn't consider the impact of the extraordinary loss. Option B is incorrect because the extraordinary loss will have a tax effect. Option D is also incorrect because it ignores the tax effect of the extraordinary loss.

ABC Company Reports Income Before Income Taxes of $2,400,000 and Had