Sandhill Company, a machinery dealer, leased a machine to Wildhorse Corporation on 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.

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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 e$.$g$.5,275.)$

Amount of the lease receivable

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