A firm is considering the purchase of a new equipment costing $4,052,025 which qualifies for a 22% CCA rate. This equipment has a 4-year life after which it can be sold for $821,980. The firm can lease it for $1,231,680 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 24%, and the pre-tax cost of borrowing is 6.34%. What is the break-even lease payment? $831,833 $852,629 $873,424 $894,220 $915,016