On January $1,2020,$ a machine was purchased for $$1,020,000$ by Windsor Co$.$ The machine is expected to have an $8-$year life with no salvage value. It is to be depreciated on a straight$-$line basis. The machine was leased to Wildhorse Inc. for $3$ years on January $1,2020,$ with annual rent payments of $$300,000$ due at the beginning of each year, starting January $1,2020.$ The machine is expected to have a residual value at the end of the lease term of $$562,500,$ though this amount is unguaranteed. On January $1,2020,$ a machine was purchased for $$1,020,000$ by Windsor 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 Wildhorse Inc. for $3$ years on January $1,2020,$

with annual rent payments of $$300,000$ due at the beginning of each year, starting January $1,2020.$ 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 factor tables.

$($For calculation purposes, use $5$ decimal places as displayed in the factor table provided.$)$

$($a$)$

How much should Windsor report as income before income tax on this lease for $2020?$

Income before income tax $,$$