A firm is considering the purchase of a new equipment costing $8,252,695 which qualifies for a 44% CCA rate. This equipment has a 4-year life after which it can be sold for $1,371,240. The firm can lease it for $2,104,580 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 23%, and the pre-tax cost of borrowing is 10.66%. What is the absolute value of the net advantage to leasing?