Check my work Each of the four independent situations below describes a sales-type lease in which annual lease payments of $11,000 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.) 1 6 6 111 Situation 2 3 6 6 7 7 115 115 4 6 9 115 Lease term (years) Asset's useful life (years) Lessor's implicit rate (known by lessee) Residual value! Guaranteed by lessee Unguaranteed Purchase option: After (years) Exercise price Reasonably certain? 0 0 $ 4,400 0 $ 2,200 $ 2,200 0 $ 4,400 none n/a n/a 5 $ 7,200 no 6 $ 1,200 no 3 $3,200 yes Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar.) Situation A The lessor's 1. Total lease payments P Help Save Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar.) Situation A. The lessor's 1. Total lease payments 2. Gross investment in the lease 3. Net investment in the lease B. The lessee's 4. Total lease payments 5. Right-of-use asset 6. Lease liability