Each of the five independent situations below describe a sales-type lease in which annual lease payments of $9,000 are payable at the beginning of each year. Each is a finance lease for the lessee. 2 5 o Situations 3 4 5 Lease term (years) 5 4 4 4 Lessor's rate of retum 9% 8% 7% 6% 7% Residual Value: Estimated fair value $2,000 $3,000 $2,000 $6,000 Guaranteed fair value o $3,000 $6,000 $7,000 Purchase Option: After (years) none none 2 2 3 Exercise price n/a n/a 10,000 20,000 $5,000 Reasonably certain? n/a n/a no no yes Calculate the amount the lessor would record as a lease receivable and the lessee would record as a right-of-use asset for each of the above situations. Round to the nearest dollar. Format (SXXXXX) o 1 2 3 4 5 Lease Receivable Right-of-use asset