At the beginning of its fiscal year, Lakeside Incorporated leased office space to LTT Corporation under a eleven$-$year

operating lease agreement. The contract calls for quarterly rent payments of $$41,000$ each. The office building was

acquired by Lakeside at a cost of $$3\mathrm{.}6$ million and was expected to have a useful life of $30$ years with no residual value.

What will be the effect of the lease on Lakeside's earnings for the first year $($ignore taxes$)?$

Note: Enter your answer rounded to the nearest whole dollar.