Cape Fear Riverwood is a lumber company that specializes inrecovering, cutting, and sellin...

Cape Fear Riverwood is a lumber company that specializes inrecovering, cutting, and selling wood from trees discarded long ago, even those that have been underwater or buried in the ground for more than 100 years! Historically, the logging industry used rafts made of wood to transport cut trees to logging pens along the Cape Fear River in North Carolina. Some of the heavier trees sank during transportation. Other trees were intentionally dumped in the river for disposal after being bled for turpentine. The company used side-scan penetrating radar to find large quantities of logs in 30 locations in and around the river. The first two sites the company salvaged contained heart pine and river pine. A more recent site contained a treasure trove of perfectly preserved 38,000-year-old cypress trees buried 30 feet in a sand pit. Scientists have identified these as trees that became extinct more than 20,000 years ago

 Because the harvested lumber depletes the total amount of natural resources available to the citizens of North Carolina, the state of North Carolina places an excise tax of ^ of all profits earned by lumber companies within the state. If the harvested cypress wood is worth approximately $80,000,000 and the only expense of obtaining the wood is the recovery cost, how much excise tax is owed to North Carolina?