$7.$ Sunland Company, a machinery dealer, leased a machine to Carla Vista Corporation on January $1,2025.$ The lease is for an $8-$year period and requires equal annual payments of $\backslash (\backslash$$ $31,600\backslash )$ at the beginning of each year. The first payment is received on January $1,2025.$ Sunland had purchased the machine during $2024$ for $\backslash (\backslash$$ $101,000\backslash ).$ Collectibility of lease payments by Sunland is probable. Sunland set the annual rental to ensure a $\backslash (6\backslash \%\backslash )$ rate of return. The machine has an economic life of $10$ years with no residual value and reverts to Sunland at the termination of the lease. Click here to view factor tables. $($a$)$ Compute the amount of the lease receivable. $($For calculation purposes, use $5$ decimal places as displayed in the factor table provided and round final answer to $0$ decimal places e$.$g$.5,275.)$ Amount of the lease receivable $\backslash (\backslash$$ $\backslash )$