You work for a nuclear research laboratory that is contemplating leasing a diagnostic scanner (leasing is a common practice with expensive, high-tech equipment). The scanner costs $6.66 and would be depreciated straight-line to zero over four years. Because of radiation contamination, it will actually be completely valueless in four years. You can lease it for $1,760,367 per year for four years.

Assume that the tax rate is 32%. You can borrow at 9.8% before taxes. What would be the maximum payment that a leasee is willing to pay?