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. (EV of $1, PV of $1. EVA of $1. PVA of $1, EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Lease term (years) Lessor's rate of return, Fair value of lease asset Lessor's cost of lease asset Residual value: Estimated fair value Guaranteed fair value Situation 2 5 9% B 10% 6 9 8% 11% $62,000 $362,000 $62,000 $87,000 $477,000 $362,000 $57,000 $477,000 $ 62,000 $19,000 $31,000 0 $19,000 $36,000 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.) Residual Value PV of Lease PV of Residual Lease Payments Right-of-use Asset/Lease Guarantee Payments Value Guarantee Liability Sauation 1 $ 05 62,000 $ 0 $ 62,000 Situation 21 $ o $ 0$ 0 Situation 3 S 0 $ 0 $ 0 Situation 4 $ 0 Check my