Each of the four independent situations below describes a capital lease in which annual lease payments are payable at the beginning of each year. (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	2	3	4
Lease Term	4	7	5	8
Lessor's rate of Return	10%	11%	9%	12%
Fair Value of leased asset	50000	350000	75000	465000
Lessor's cost of leased asset	50000	350000	45000	465000
Residual Value:	0	50000	0	30000
Guaranteed by lessee	0	0	7000	15000
Unguaranteed

Determine the annual lease payments for each situation