Leona Corporation realized $600,000 Taxable Income from the Sales of its products in State X and State Z. Leona Corporation's activities establish nexus for Income Tax purposes in both States. Leona Corporation's Sales, Property and Payroll among the States include the following.

	State X	State Z	Totals
Sales	$4,000,000	$6,000,000	$10,000,000
Property	2,000,000	0	2,000,000
Payroll	1,000,000	0	1,000,000

State X utilizes an equally weighted three-factor apportionment formula. Leona Corporation is incorporated in State X. How much of Leona Corporation's Taxable Income is apportioned to State X?

		$7,000,000.
		$ 480,000.
		$ 120,000.
		$ 0.