4. A firm is considering the purchase of a new equipment costing $5,296,730 which qualifies for a 29% CCA rate. This equipment has a 4-year life after which it can be sold for $1,074,470. The firm can lease it for $1,610,030 per year for its useful life. Assume that the firm makes payments at the end of the year, the asset pool remains open, the tax rate is 31%, and the pre-tax cost of borrowing is 8.02%. What is the break-even lease payment?