Sandhill Company, a machinery dealer, leased a machine to Wildhorse Corparation an January 1, 2025. The lease is for an 8-year period and requires equal annual payments of $31,903 at the beginning of each year. The first payment is received on January 1,2025. Sandhill had purchased the machine during 2024 for $127,000. Collectibility of lease payments by Sandhill is probable. Sandhill set the annual rental to ensure a 6% rate of return. The machine has an economic life of 10 years with no residual value and reverts to Sandhill at the termination of the lease. (a) Compute the amount of the lease receivable. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answer to 0 decimal places eg. 5275.)