ABC inc produces industrial equipment and lease them to its customers. ABC requires 10% after-tax required return on its lease contracts. A specific piece of equipment is valued at $700,000 and is usually leased for 7 years. ABC depreciates the machine on a straight-line to $0 book value in year 7. ABC inc expects that the piece will have a salvage value of $75,000 at the end of the lease period. ABC inc's income tax rate is 21%.

Determine the net amount to be amortized, annual after-tax lease payment, and annual before-tax lease payment for the machine.