Information for Hobson Corp. for the current year ($ in millions): $150 Income from continuing operations before tax Loss on discontinued operation (pretax) 40 Temporary differences (all related to operating income): Accrued warranty expense in excess of expense included in operating income Depreciation deducted on tax return in excess of 20 25 depreciation expense Permanent differences (all related to operating income) : Nondeductible portion of entertainment expense 10 The applicable enacted tax rate for all periods is 40 %. What should Hobson report as income from continuing operations? Multiple Choice $88 million. The applicable enacted tax rate for all periods is 40 %. What should Hobson report as income from continuing operations? Multiple Choice $88 million. $150 million. $90 million. $86 million