Elon Inc. is a solar battery manufacturer. It would like to lease a specialized equipment to make the production of its batteries more efficient. Elon Inc. can lease the equipment for the term equal to its economic life from another company, Galaxy Inc., that owns it. Another option is to purchase the equipment. The equipment costs $5,500,000. If purchased, it will be fully depreciated according to the straight-line depreciation method over five years. Because the equipment would be used so much, it will be valueless in five years. Elon Inc. is in the 21 percent income tax rate bracket. It can borrow at 7 percent pre-tax rate.

At which lease payment (pre-tax) would both Elon Inc. and Galaxy Inc. be indifferent between signing or not signing the lease agreement? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Your answer should be typed as a positive value.)