Oldham, Incorporated conducts business in State M and State N$,$ which both use the UDITPA three$-$factor formula to apportion income. State M$$s corporate tax rate is $4\mathrm{.}5$ percent, and State N$$s corporate tax rate is $7$ percent. This year, Oldham had the following sales, payroll, and property $($in thousands of dollars$)$ in each state:

State M State N Total

Gross receipts from sales $ $3,350$ $ $7,700$ $ $11,050$

Payroll expense $1,1801,3202,500$

Property costs $9401,7202,660$