Each of the four independent situations below describes a finance lease in which annual lease payments are payable at the beginning of each year. The lessee is aware of the lessor$$s implicit rate of return.

Situation

Year $1234$

Lease term $($years$)5869$

Lessor's rate of return $10\%11\%9\%12\%$

Fair value of lease asset : $67,000367,00092,000482,000$

Lessor's cost of lease asset $67,000367,00062,000482,000$

Residual value:

Estimated fair value $067,00024,00036,000$

Guaranteed fair value $0024,00041,000$

Required:

a$.$ & b$.$ Determine the amount of the annual lease payments as calculated by the lessor and the amount the lessee would record as a right$-$of$-$use asset and a lease liability, for each of the above situations.

Round your answers to the nearest whole dollar amount.