Question: Information for Hobson Corporation for the current year ( $ in millions ) : Income from continuing operations before tax $ 3 0 5 Loss

Information for Hobson Corporation for the current year ($ in millions):
Income from continuing operations before tax $ 305
Loss on discontinued operation (pretax)72
Temporary differences (all related to operating income):
Accrued warranty expense in excess of expense included in operating income 35
Depreciation deducted on tax return in excess of depreciation expense 45
Permanent differences (all related to operating income):
Nondeductible portion of entertainment expense 8
The applicable enacted tax rate for all periods is 25%.
What is Hobson's income tax payable for the current year?

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