The Wildcat Oil Company is trying to decide whether to lease or buy a new computer$-$assisted drilling system for its oil exploration business. Management has decided that it must use the system to stay competitive; it will provide $$3\mathrm{.}2$ million in annual pretax cost savings. The system costs $$8\mathrm{.}2$ million and will be depreciated straight$-$line to zero over five years. Wildcat$$s tax rate is $22$ percent and the firm can borrow at $7$ percent. Lambert$$s policy is to require its lessees to make payments at the start of the year. Suppose it is estimated that the equipment will have an aftertax residual value of $$740,000$ at the end of the lease. What is the maximum lease payment acceptable to Wildcat?