Rhodes Company Reported year for analysis, 2009:

2009	Net income as reported	$90,200,000
2009	Inventory reserve	50,000,000
2008	Inventory reserve	46,000,000
2009	Income taxes	55,000,000
2009	Income before income taxes	145,200,000

Compute the approximate income if inventory had been valued at the approximate current cost.

Do not copy from Chegg and give a complete answer with an explanation