consider lease payment as $

465,000

Each of the four independent situations below describes a sales-type lease in which annual lease payments of 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.) Situation 2 3 Lease term (years) 7 7 8 8 Lessor's and lessee's interest rate 98 118 10% 128 Residual value: Estimated fair value 0 $50,000 $8,000 $50,000 Guaranteed by lessee. 0 0 $8,000 $60,000 Determine the following amounts at the beginning of the lease. (Round your intermediate and final answers to the nearest whole dollar amount.) Situation 2 A The lessor's: 1. Lease payments 2. Gross investment in the lease 3. Net investment in the lease The lessee's: 4. Lease payments 5. Right-of-use asset 6. Lease payable B