How much tax expense on income from continuing operations would be reported in Hobson's income statement? (Round the final answer to 2 decimal places.)

Information for Hobson Corp. for the current year (\$ in millions): Income from continuing operations before tax $235 Loss on discontinued operation (pretax) Temporary differences (all related to operating income): Accrued warranty expense in excess of expense included in operating income 90 Depreciation deducted on tax return in excess of depreciation expense 185 Permanent differences (all related to operating income): Nondeductible portion of entertainment expense 21 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? (Round the final answer to 2 decimal places.) $64.00 million. $56.50 million. $40.25 million. $62.75 million