bryant lease quipment that had a retail cash selling price of $$600,000$ and a useful life of five years with no residual value. The lessor spent $$530,000$ to manufacture the equipment and used an impllicit rate of $8\%$ when calculating annual lease payments of $$139,142$ beginning January $1,$ the beginning of the lease. Lease payments will be made January $1$ each year of the lease. Incremental costs of consummating the lease transaction incurred by the lessor were $$15,000.$ What is the effect of the lease on the lessor's earnings during the first year, not including any effect of depreciation no longer required on the asset under lease $($ignore taxes$)?$

Note: Input decreases to income as negative amounts.