YTF Corporation is a Malaysian corporation. It earns $1,000,000 of interest income from banking operations in New York. New York law taxes interest income earned within its jurisdiction at a 5% rate. However, Malaysia and the United States have a tax treaty that is identical to the US Model Treaty. 

How much New York state tax would YTF pay on its $1,000,000 of interest income from New York sources

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Under the tax treaty between Malaysia and the United States and assuming it follows the US Model Tre View the full answer