Premium Corp. has total business income of $1 million, and in State W has a sales factor of 60%, a payroll factor of 50%, and a property tax factor of 46%. What is Premiums State W UDITPA apportionment factor and State W business income?

50 percent; $500,000 business income

50 percent; $1,000,000 business income

50 percent; $1,000,000 business income

52 percent; $1,000,000 business income