4-1: Practice Exercises i 4 Saved Each of the four independent situations below describes a sales-type lease in which annual lease payments of $180,000 are payable at the beginning of each year. Each is a finance lease for the lessee. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 3 points Situation 1 2 3 4 Lease term (years) 9 9 10 10 Lessor's and lessee's interest rate 8% 10% 9% 11% Residual value: eBook Estimated fair value 0 Guaranteed by lessee $66,000 0 $9,600 $9,600 $66,000 $76,000 Print References Determine the following amounts at the beginning of the lease: (Round your intermediate and final answer to the nearest whole dollar amount.) A The lessor's: Situation 1 2 3 4 1. Total lease payments 2. Gross investment in the lease 3. Net investment in the lease B The lessee's: $ 1,620,000 $ 1,620,000 $ 1,800,000 $1,800,000 1,620,000 1,214,395 1,686,000 1,168,278 1,809,600 1,876,000 1,263,200 1,203,435 4. Total lease payments 1,620,000 1,620,000 1,800,000 5. Right-of-use asset 1,214,395 1,140,287 1,259,145 1,180,191 6. Lease liability 1,214,395 1,140,287 1,259,145 1,180,191