Cheyenne Equipment Leasing Company leased equipment to Sheridan Healthcare System on January 1, 2025, for a four-year period. Equal annual payments under the lease are $350000 and are due on January 1 of each year. The first payment was made on January 1. 2025. The implicit rate of interest contemplated by Cheyenne Equipment Leasing and known to Sheridan Healthcare is 8%. Sheridan's incremental borrowing rate is 11%. The cost of the equipment on Cheyenne Equipment Leasing accounting records was $820000. Assuming that the lease is appropriately recorded as an operating lease, what is the amount of profit on the sale that Cheyenne Equipment Leasing would record for the year ended December 31, 2025? PV Annuity Due PV Ordinary Annuity PV Single Sum 8%, 4 periods 3.57710 11%, 4 periods 344371 O $788182 $0 $318182 O $431985 3.31213 0.73503 3.10245 0.65873 SUPPE