On June $30,2024,$ Georgla Atiantic, Incorpoiated leased warehouse equipment fiom Builders, Incorporated. The lease agreement calls for Georgla$-$Atlantic to make semianual lease payments of $$562,907$ over a three$-$year feose term $($also the asset's useful life$).$ payable each June $30$ and December $31,$ with the first payment on June $30,2024.$ Georgla$-$Atlantic's incremental borrowing rate is $10\%$ the same rate Builders used to calculate lease payment amounts. Builders manufactured the equipment at a cost of $$2\mathrm{.}5$ million. Note: Use tables, Excel, or a financial calculator. $($EV of $$1.$ PV of $$1.$ EVA of $$1.$ PVA of $$1.$ FVAD of $$1$ and PVAD of $$1)$

Required:

Determine the price at which Builders is "selling" the equipment $($present value of the lease payments$)$ on June $30,2024.$

What amount related to the lease would Builders report in its balance sheet on December $31,2024($ignore taxes$)?$

What line item amounts related to the lease would Bullders report in its income statement for the year ended December $31,2024($ignore taxes$)?$

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