Leona Corporation owns and operates two (2) manufacturing facilities, one in State X and the other in State Y. Due to a temporary decline in the corporation's sales, Leona Corporation has rented twenty percent (20%) of its State Y facility to an unaffiliated corporation. Leona Corporation generated $1,000,000 Net Rental Income on the rental of the twenty percent (20%) of its State Y facility and $9,000,000 Income from manufacturing. Leona Corporation is incorporated in State Y. For State X and State Y purposes, rental income is classified as allocable Nonbusiness Income. By applying the statutes of each State, Leona Corporation determined that its apportionment factors are .65 for State X and .35 for State Y. Leona Corporation's Income attributed to State Y is: $3,200,000.$9,000,000.$4,150,000.$3,150,000
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