management believes it can arrange a lease. Assume that the following facts apply:

The equipment falls in the MACRS $5-$year class. The applicable MACRS rates are $20\%,33\%,19\%,11\%,10\%,$ and $7\%.$ year.

Findley's federal$-$plus$-$state tax rate is $35\%.$

If the money is borrowed, the bank loan will be at a rate of $9\%,$ amortized in $5$ equal installments to be paid at the end of each year.

The tentative lease terms call for end$-$of$-$year payments of $$1\mathrm{.}15$ million per year for $5$ years. or purchases it$.$

What is the net advantage to leasing? Do not round intermediate calculations. Round your answer to the nearest thousand dollars. Enter your answer as a positive number. $ thousand

MAKE SURE ANSWER IS ROUNDED TO NEAREST THOUSAND