On January 1,2020 , a machine was purchased for $860,000 by Metlock Ca. The machine is expected to have an 8 -year life with no salvage value. It is to be depreciated on a straight fine basis. The machine was leased to lvanhoe Inc. for 3 years on January 1,2020. with annual rent payments of $270,000 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. Clickhere to view factor tables. (For colculation purposes, use 5 decimal ploces as displayed in the factor table provided.) (a) How much should Metlock report as income before income tax on this lease for 2020? Income before income tax 5