Grant Industries leased exercise equipment to Silver Gyms on July 1, 2011. Grant recorded the lease as a sales-type lease at $810,000, the present value of minimum lease payments discounted at 10%. The lease called for ten annual lease payments of $120,000 due at the beginning of each year. The first payment was received on July 1, 2011. Grant had manufactured the equipment at a cost of $750,000. The total increase in earnings (pretax) on Grant's 2011 income statement would e?