Blossom Co. leased equipment to Riggs Company on May 1, 2018. At that time the collectibility of the minimum lease payments was not reasonably predictable. The lease expires on May 1, 2019. Riggs could have bought the equipment from Blossom for $6050000 instead of leasing it. Blossom's accounting records showed a book value for the equipment on May 1, 2018, of $5350000. Blossom's depreciation on the equipment in 2018 was $560000. During 2018, Riggs paid $1068000 in rentals to Blossom for the 8-month period. Blossom incurred maintenance and other related costs under the terms of the lease of $116000 in 2018. After the lease with Riggs expires, Blossom will lease the equipment to another company for two years.

The income before income taxes derived by Blossom from this lease for the year ended December 31, 2018, should be?