On June $30,2024,$ Georgla$-$Atlantic, Incorporated leased warehouse equipment from Bullders, Incorporated The lease agreement calls for Georgla$-$Atlantic to make semiannual lease payments of $$681,881$ over a $4-$year lease term $($also the asset's useful life$).$ payable each June $30$ and December $31,$ with the first payment on June $30,2024.$ Georgla$-$Atlantic's incremental borrowing rate is $9\mathrm{.}0\%,$ the same rate Bullders used to calculate lease payment amounts. Builders manufactured the equipment at a cost of $$4\mathrm{.}2$ million.

Note: Use tables, Excel, or a financlal calculator. $($FV of $$1,$ PV of $$1,$ FVA 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 Bulders 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 the intermedlate calculation and final answers to the nearest whole dollar.

Present value

Pretax net receivable

Total pretax effect on net income