A company needs to decide whether to buy or lease new equipment. The company can buy the equipment for $3,500,000. Consider the following: Present Value of Lease Payments Before-tax = $2,000,000; Present Value of Lease Payments Tax Shield = $400,000; PVCCATS = $875,000; Present Value of Salvage Value = $900,000. What is the NAL?

Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $1,000.50 should be entered as 1000.50.