A firm is considering the purchase of a new equipment costing $5,118,915 which qualifies for a 28% CCA rate. This equipment has a 4-year life after which it can be sold for $1,038,400. The firm can lease it for $1,555,980 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 30%, and the pre-tax cost of borrowing is 7.78%. What is the break-even lease payment