13 Each of the four independent situations below describes a finance lease in which annual lease payments are payable at the beginning of each year. The lessee is aware of the lessor's implicit rate of return. (EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD o $1) (Use appropriate factor(s) from the tables provided.) 26 oints Situation 1 2 3 6 4 Lease term (years) Lessor's rate of return 5 8 9% 10% 8% 11% Fair value of lease asset $69,000 $ 369,000 $94,000 $484,000 eBook Lessor's cost of lease asset $69,000 $369,000 $64,000 $484,000 Residual value: Estimated fair value Guaranteed fair value $ 69,000 $ 38,000 $ 43,000 $26,000 $ 26,000 e e Hint Required: a. & b. Determine the amount of the annual lease payments as calculated by the lessor and the amount the lessee would record as a right-of-use asset and a lease liability, for above situations. (Round your PV factor answers to 5 decimal places and other answer to nearest whole dollar.) References Right-of-use Asset/Lease Liability PV of Lease Payments PV of Residual Value Guarantee Residual Value Guarantee Lease Payments Situation 1 Situation 2 Situation 3 $ 0 0 0 Situation 4 S 0