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Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 10 3 Each of the four independent situations below describes a sales-type lease in which annual lease payments of $14,000 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.) points Situation 2 3 4 Lease term (years) Asset's useful life (years) 3 3 3 3 3 4 4 6 Lessor's implicit rate (known by lessee) 128 128 128 128 Residual value: Guaranteed by lessee Unguaranteed 0 0 $5,600 0 Purchase option: After (years) Exercise price Reasonably certain? 0 $5,600 none 2 2 n/a n/a $7,800 $1,800 $3,800 no no yes $2,800 $2,800 Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar.)
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