Information for Ivey Corp. for the current year ($ in millions):

Income from continuing operations before tax$440Loss on discontinued operation (pretax)108Temporary differences (all related to operating income):Accrued warranty expense in excess of expense

included in operating income80Depreciation deducted on tax return in excess of

depreciation expense135Permanent differences (all related to operating income):Nondeductible portion of entertainment expense17

The applicable enacted tax rate for all periods is 25%.

What is Ivey's income tax payable for the current year?(Round your answer to 2 decimal places.)

$70.50 million.

$67.00 million.

$73.50 million.

$71.70 million.