On June $30,2021,$ Georgia$-$Atlantic, Inc. leased a warehouse equipment from IC Leasing Corporation. The lease agreement calls for Georgia$-$Atlantic to make semiannual lease payments of $$576,798$ over a five$-$year lease term, payable each June $30$ and December $31,$ with the first payment at June $30,2021.$ Georgia$-$Atlantic's incremental borrowing rate is $12\%,$ the same rate IC uses to calculate lease payment amounts. Amortization is recorded on a straight$-$line basis at the end of each fiscal year. The fair value of the equipment is $$4\mathrm{.}5$ million. $(FV$ of $$1,PV$ of $$1,$FVA of $$1,$PVA of $$1,$FVAD of $$1$ and PVAD of $$1)($Use appropriate factor$($s$)$ from the tables provided.$)$

Required:

Determine the present value of the lease payments at June $30,{202}^{21}$ that Georgia$-$Atlantic uses to record the right$-$of$-$use asset and lease liability.

What pretax amounts related to the lease would Georgia$-$Atlantic report in its balance sheet at December $31,2021?$

What pretax amounts related to the lease would Georgia$-$Atlantic report in its income statement for the year ended December $31,2021?$

$($For all requirements, enter your answers in whole dollars and not in millions. Round your final answers to the nearest whole dollar.$)$

Answer is complete but not entirely correct.

$\backslash$table$[[1.,$Present value,$$,4,244,262x$