Information for Hobson Corp. for the current year ($ in millions): $155 32 Income from continuing operations before tax Loss on discontinued operation (pretax) Temporary differences (all related to operating income): Accrued warranty expense in excess of expense included in operating income Depreciation deducted on tax return in excess of depreciation expense Permanent differences (all related to operating income): Nondeductible portion of entertainment expense 10 25 5 The applicable enacted tax rate for all periods is 25%. What should Hobson report as net income? How should Hobson report tax on the discontinued operation? Multiple Choice O A tax receivable of $8 million in the balance sheet. A tax benefit of $8 million to net against the $32 million pretax loss. O A deferred tax asset of $8 million in the balance sheet. None of these answer choices are correct