4.(25 points) X has taken out a 36 month lease on a car with a sticker price of $26,000. The residual value percentage is 55%; the money factor is .00135; the sales tax is 6.35%. X negotiated a selling price of $23,500 for the car; the fees charged by the dealership were $1200. X made a down payment of $1500. Calculate the monthly lease payment. Answer: X's monthly lease payment is $