A CNC machine is valued at $2,500,000 and is usually leased for 10 years. The manufacturer of this machine requires 15% after-tax required return on its lease contracts and depreciates the machine on a straight-line basis of $250,000 a year for 10 years to a book salvage value of zero. However, the manufacturer expects that the CNC machine will have a salvage value of $200,000 at the end of the lease period. The manufacturer's income tax rate is 40%. Determine the annual before-tax lease payment for the CNC machine. (13 points]