At the beginning of its fiscal year, Lakeside Incorporated leased office space to LTT Corporation under a ten-year operating lease agreement. The contract calls for quarterly rent payments of $33,000 each. The office building was acquired by Lakeside at a cost of $2.8 million and was expected to have a useful life of 25 years with no residual value. What will be the effect of the lease on LTT's earnings for the first year (ignore taxes)? Note: Enter your answer rounded to the nearest whole dollar. LTT increases reduces its earnings by