Information for Hobson International Corp. for the current year ($ in millions): Income from continuing operations before tax $150 Extraordinary loss (pretax) 30 Temporary differences (all related to operating income): Accrued warranty expense in excess of write-offs included in operating income 10 Depreciation deducted on tax return in excess of depreciated expense 25 Permanent differences (all related to operating income): Nondeductible portion of travel & entertainment expense 5 The applicable enacted tax rate for all periods is 40%. What should Hobson International report as net income? A. $75 million B. $70 million C. $72 million D. $88 million