Brief Exercise 15-8 (Algo) Operating lease [LO15-4] At the beginning of its fiscal year, Lakeside Inc. leased office space to LTT Corporation under a eleven-year operating lease agreement. The controct calls for quarterly rent payments of $41,000 each. The office building was ocquired by Lakeside at a cost of $3.6 million and was expected to have ouseful ilfe of 30 yeors with no residael value. What will be the effect of the lease on LTT's eamings for the furst year (ganore taxes)? (Enter your answer as a positive amount rounded to the nearest whole dollar.)