Assume you are evaluating a lease with annual payments of $530,000 per year under a 5 year lease. The after-tax cost of debt is 6% and the tax rate is 40%. Rather than occurring at the end of each year, you have realized that tax payments actually occur evenly throughout the year. Using the mid-year approximation, by how much (in present value terms) are you underestimating the tax benefits from the lease by assuming end of year rather than mid-year tax payments? Please show all work in excel.