A firm is considering the purchase of a new equipment costing $7,074,880 which qualifies for a 39% CCA rate. This equipment has a 4-year life after which it can be sold for $1,435,170.The firm can lease it for $2,150,530 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 41%, and the pre-tax cost of borrowing is 10.42%.What is the break-even lease payment?

Question 8 options:

$1,557,397

$1,597,330

$1,637,263

$1,677,196

$1,717,130