Check my work 12 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. (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.) 2.5 points 1 Lease term (years) Lessor's rate of return Fair value of lease asset Lessor's cost of lease asset Residual value: Estimated fair value Guaranteed fair value 5 9% $ 69,000 $ 69,000 Situation 2 3 8 6 10% 8% $369,000 $ 94,000 $369,000 $ 64,000 4 9 11% $484,000 $484,000 eBook Hint $ 69,000 $ 26,000 $ 26,000 $ 38,000 $ 43,000 Print References 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 each of the above situations. (Round your answers to the nearest whole dollar amount.) Lease Payments Residual Value PV of Lease Payments PV of Residual Value Guarantee Right-of-use Asset/Lease Liability Guarantee Situation 1 Situation 2 Situation 3 Situation 4 Check my work 12 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. (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.) 2.5 points 1 Lease term (years) Lessor's rate of return Fair value of lease asset Lessor's cost of lease asset Residual value: Estimated fair value Guaranteed fair value 5 9% $ 69,000 $ 69,000 Situation 2 3 8 6 10% 8% $369,000 $ 94,000 $369,000 $ 64,000 4 9 11% $484,000 $484,000 eBook Hint $ 69,000 $ 26,000 $ 26,000 $ 38,000 $ 43,000 Print References 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 each of the above situations. (Round your answers to the nearest whole dollar amount.) Lease Payments Residual Value PV of Lease Payments PV of Residual Value Guarantee Right-of-use Asset/Lease Liability Guarantee Situation 1 Situation 2 Situation 3 Situation 4