Information for Hobson Corp. for the current year ($ in millions):

Income from continuing operations before tax	$	275
Loss on discontinued operation (pretax)		64
Temporary differences (all related to operating income):
Accrued warranty expense in excess of expense included in operating income		50
Depreciation deducted on tax return in excess of depreciation expense		105
Permanent differences (all related to operating income):
Nondeductible portion of entertainment expense		13

The applicable enacted tax rate for all periods is 25%. What should Hobson report as net income?