On June $30,2024,$ Georgia$-$Atlantic, Incorporated leased warehouse equipment from Builders, Incorporated The lease agreement calls for Georgia$-$Atlantic to make semiannual lease payments of $$779,224$ over a $3-$year lease term $($also the asset$$s useful life$),$ payable each June $30$ and December $31,$ with the first payment on June $30,2024.$ Georgia$-$Atlantic's incremental borrowing rate is $9\mathrm{.}0\%,$ the same rate Builders used to calculate lease payment amounts. Builders manufactured the equipment at a cost of $$3\mathrm{.}7$ million.

Note: Use tables, Excel, or a financial calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

Required:

Determine the price at which Builders is $$selling$$ the equipment $($present value of the lease payments$)$ on June $30,2024.$

What amount related to the lease would Builders report in its balance sheet on December $31,2024($ignore taxes$)?$

What line item amounts related to the lease would Builders report in its income statement for the year ended December $31,2024($ignore taxes$)?$

Note: For all requirements, enter your answers in whole dollars and not in millions. Round the intermediate calculation and final answers to the nearest whole dollar. $1.$ Present value:

$2.$ Pretax net receivable:

$3.$ Total pretax effect on net income: