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10 Electric Inc., which has a zero tax rate due to tax loss carry-forwards, is considering a 6-year, $5,000,000 bank loan in order to buy a new piece of equipment. The loan will be amortized over 6 years with end-of-year payments and has an interest rate of 9.5%. Alternatively, Ballentine can also lease the equipment for an end-of-year payment of $1,275,000. By how much does the lease payment exceed the loan payment