Hambone Corporation Is Subject to the State E Capital Stock

Hambone Corporation is subject to the State E capital stock tax. The tax is levied at 2% of the entity's net worth that is apportioned to E. Hambone conducts 30% of its operations in State E. Hambone's current book balance sheet is as follows, with amounts in millions. Compute Hambone's liability for the E capital stock tax. $\begin{array}{lrlr}\text { Cash } & \$ 40 & \text { Payables } & \$ 50 \\\text { Receivables } & 20 & \text { Mortgages, principal } & 400\\\text { Equipment, net of accumulated }&140& \text { Common stock}&10\\ \text {depreciation}\\ \text {Buildings, net of accumulated}&300& \text {Additional paid-in capital}&190\\ \text {depreciation}\\\text { Land } & \underline{250} & \text { Retained earnings } & 100 \\\text { Total assets } & \underline{\mathbf{\$ 7 5 0}} & \text { Total liabilities and equity } & \underline{\mathbf{\$ 7 5 0}}\end{array}$