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 already determined that acquisition of the system has a positive NPV$.$ The system costs $$9\mathrm{.}4$ million and qualifies for a $25\%$ CCA rate. The equipment will have a $$975,000$ salvage value in five years. Wildcat$$s tax rate is $36\%,$ and the firm can borrow at $9\%.$ Southtown Leasing Company has offered to lease the drilling equipment to Wildcat for payments of $$2\mathrm{.}15$ million per year. Southtown'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 no salvage value at the end of the lease. What is the maximum lease payment acceptable to Wildcat now?