Exercise 21A-18 a-c (Part Level Submission) On January 1, 2017, a machine was purchased for $1,180,000 by Sage Hill Co. The machine is expected to have an 8-year life with no salvage value. It is to be depreciated on a straight-line basis. The machine was leased to Oriole Inc. for 3 years on January 1, 2017, with annual rent payments of $270,000 due at the beginning of each year, starting January 1, 2017. The machine is expected to have a residual value at the end of the lease term of $562,500, though this amount is unguaranteed Click here to view the factor table For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (a) How much should Sage Hill report as income before income tax on this lease for 2017? Income before income tax Attempts: 0 of 5 used SAVE FOR LATER SUBMIT ANSWER The parts of this question must be completed in order. This part will be available when you complete the part above