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Oldham Inc. conducts business in State Mand State N, which both use the UDITPA three-factor formula to apportion income. State M's corporate tax rate is

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Oldham Inc. conducts business in State Mand State N, which both use the UDITPA three-factor formula to apportion income. State M's corporate tax rate is 4.00 percent, and State N's corporate tax rate is 750 percent. This year, Oldham had the following sales, payroll and property (in thousands of dollars) in each state: Gross receipts from sales Payroll expense Property costs State M $3,800 1,600 1,700 State $8,300 2,000 1,800 Total $12, 169 3,660 3,500 If Oldham's before-tax income was $3.8 million, compute its State M and State N tax. (Round all apportionment factors to 4 decimal places, e.g., 47.15% would be 0.4715. Enter "Apportionment percentage" and "Tax rate" in decimals and not in percentage. Enter your answers in dollars and not in millions or thousands of dollars.) State M State N Total taxable income subject to apportionment Apportionment percentage State taxable income Tax rate State tax

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