You work for a nuclear research laboratory that is contemplating leasing a diagnostic

scanner $($leasing is a very common practice with expensive, high$-$tech equipment$).$ The

scanner costs $$5,500,000,$ and it would be depreciated straight$-$line to zero over four

years. Because of radiation contamination, it actually will be completely valueless in four

years. The tax rate is $25$ percent and you can borrow at $7$ percent before taxes. What

would the lease payment have to be for both lessor and lessee to be indifferent about

the lease? $($Do not round intermediate calculations and round your answer to $2$

decimal places, e$.$g$.,32\mathrm{.}16.)$

Answer is complete but not entirely correct.

Break$-$even lease payment

$

$(1,217,715\mathrm{.}82)$