Doesn't turn on after unplugging and replugging

I unplugged the Xbox when it was on standby mode, with the cable on at the wall to quickly use for something else. Then I plugged the Xbox back in with the cable still on at the wall and it made a sparking sound, and a few seconds later the internal power supply started to make buzzing sounds. When pressing the Xbox button, it lights up for about 5 seconds then turns back off again.

I’m guessing I’ve fried the power supply. My question is would replacing the internal power supply solve the issue?