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 $4 million in annual pretax cost savings. The system costs $9.1 million and will be depreciated straight-line to zero over ve years. Wildcat's tax rate is 25 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 aertax residual value of $900,000 at the end of the lease. What is the maximum lease payment acceptable to Wildcat? {Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.) Lease pamnt