Lessor Company leased equipment $($recorded as inventory$)$ to Lessee Company for a $3-$year period. Lessor paid $$810,000$ for the equipment $($its fair value$)$ and immediately leased it on January $1.$ The equipment has an estimated useful life of $4$ years, and the estimated residual value at the end of the lease term is $$162,000.$ Lessor's expected rate of return is $8\%.$ The lessee agreed to guarantee the estimated residual value of $$162,000.$ The first lease payment is due on January $1$ and the accounting periods for both entities end on December $31.$

a$.$ Compute the lease payment for the lessor.

b$.$ Provide the entry for the lessor on January $1$