A rental plane at a local FBO had an annual inspection at 2345 hours on the Hobbs. The next 100 hour inspection wasn't completed until 2450.
If the current hobbs time shows 2547, would it be legal to take the airplane for a 2 hour flight lesson with an instructor?
Also, does the legality of this situation change depending on whether the 5 hours between 2445 and 2450 was with an instructor or not?