Information for Hobson Corp for the current year (S in millions): Income from continuing operations before tax Loss on discont inued operation (pretax) Temporary differences (all related to operating income): $220 20 ponts Accrued warranty expense in excess of expense 8 00 45 included in operating income 10 Depreciation deducted on tax return in excess of depreciation expense 10 Permanent differences (all related to operating income): Nondeductible portion of entertainment expense eBook The applicable enacted tax rate for all periods is 40% What should Hobson report as net income? Multiple Choice $118 milion The applicable enacted tax rate for all periods is 40%. What should Hobson report as net income? points Multiple Choice 00:4454 $118 million. eBook $130 million. $96 million. $123 million