On June $30,2024,$ Georgla$-$Atlantic, Incorporated leased warehouse equipment from IC Leasing Corporation. The lease agreement calls for Georgla$-$Atlantic to make semiannual lease payments of $$681,229$ over a four$-$year lease term, payable each June $30$ and December $31,$ with the first payment on June $30,2024.$ Georgla$-$Atlantic s incremental borrowing rate is $8\%,$ the same rate IC uses to calculate lease payment amounts. Amortization is recorded on a straight$-$line basis at the end of each fiscal year. The falr value of the equipment is $$4\mathrm{.}77$ 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 present value of the lease payments on June $30,2024$ that Georgla$-$Atlantic uses to record the right$-$of$-$use asset and lease llability.

What amount related to the lease would Georgla$-$Atlantic report in its balance sheet at December $31,2024($ignore taxes$)?.$

What amount related to the lease would Georgla$-$Atlantic report in its income statement for the year ended December $31,2024($ignore taxes$)?$

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

$\backslash$table$[[1.$ Present value,$],[2.$ Pretax amount for liability,$],[2.$ Pretax amount for right$-$of$-$use asset,$],[3.$ Pretax amount for interest expense,$],[3.$ Pretax amount for amorization expense,$]]$