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Jeff & Bezos is a fresh groceries delivery company. They have access to borrowing funds at a pre-tax rate of 6% per year. Jeff &

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Jeff \& Bezos is a fresh groceries delivery company. They have access to borrowing funds at a pre-tax rate of 6% per year. Jeff \& Bezos pays income taxes using 24% tax rate. The company would like to start using high-speed low-altitude drones to deliver grocery purchases directly to residential customers' backyards. Jeff \& Bezos is contemplating leasing the drones for a lease term that matches the drones' economic life. It would lease them from a different company, Nots \& Flicks, that currently own the required number of the drones. Instead of leasing the fleet of the drones, Jeff \& Bezos is also contemplating buying them, which would cost the company $6,300,000. If the company chooses to buy them, the drones would be losing their economic value following the straight-line depreciation method during a six year period. The fleet of drones, due to their heavy usage, would have no salvage value in six yedrs. Calculote the pre-tax lease payment that would make both Jeff \& Bezos and Nets & Flicks indifferent between entering the lease agreement and walking awoy from it. (Do not round intermediate calculations and round your answer to 2 decimal places, e.9., 32.16. Your answer should be typed as a positive value.)

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