LNZ Corp. is thinking about leasing equipment to make tinted lenses. This equipment would cost $$3,400,000$ if purchased. The CCA rate on the equipment is $40\%$ and the salvage value after its five$-$year life will be $$350,000.$ There are no capital gains to worry about. The firm's corporate tax rate is $40\%$ and its pre$-$tax cost of debt is $12\%.$ WeLease Corp. has offered to lease the system to

LNZ for payments of $$710,000$ per year for five years. These lease payments would be made at the START of the year. Assume that the tax deductibility benefit of the lease payments occurs at the same time the lease payments are made.

$8.$ What is the present value of the after$-$tax lease payments?

A$)$ $$1,737,390$

B$)$ $$2,895,617$

C$)$ $$1,862,461$

D$)$ $$1,719,911$

E$)$ $$2,866,518$