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. (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 Lease term (years) Lessor's rate of return Pair value of lease asset Lessor's cost of lease asset Residual values 98 10 8 11% $69,000 $369,000 $94,000 $484,000 $69,000 $369,000 $64,000 $484,000 Estimated fair value Guaranteed fair value 0 69,000 $26, 000 38,000 $26,000 43,000 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 above situations. (Round your PV factor answers to 5 decimal places and other answer to nearest whole dollar.) Right-of-use AsseLease Residual Value PV of Lease PV of Residual Payments Value Guarantee Lease Payments Guarantere Situation 1 Situation2 Situation 3 Situation 4