On June $30,2024,$ Georgia$-$Atlantic, Incorporated leased warehouse equipment from Builders, Incorporated The lease agreement

calls for Georgia$-$Atlantic to make semiannual lease payments of $$468,683$ over a $5-$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

$10\mathrm{.}0\%,$ the same rate Builders used to calculate lease payment amounts. Bullders manufactured the equipment at a cost of $$3\mathrm{.}3$ million.

Note: Use tables, Excel, or a financial calculator. $($FV of $$1.$ PV of $$1.$ FVA of $$1.$ PVA of $$1.$ PVAD of $$1$ and PVAD of $$1)$

Required:

Determine the price at which Bullders 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 Builders 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 intermediate calculation and final

answers to the nearest whole dollar.

Present value

Pretax net receivable

Total pretax effect on net income