Information for Hobson Corporation for the current year ( $ in millions): Income from continuing operations before tax $230 Loss on discontinued operation (pretax) 10 Temporary differences (all related to operating income): Accrued warranty expense in excess of expense included in operating income 85 Depreciation deducted on tax return in excess of depreciation expense 175 Permanent differences (all related to operating income): Nondeductible portion of entertainment expense 20 The applicable enacted tax rate for all periods is 25%. How much tax expense on income from continuing operations would be reported in Hobson's income statement? Note: Round the final answer to 2 decimal places. Multiple Choice $61.25 million $40.00 million $55.00 miltion $62.50 miltion