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 S1) (Use appropriate factor(s) from the tables provided.) Situation Lease tecn (years) Lensor's rate of retur 10% T 11% 129 Fair value of less stret $50,000 $350,000 $75,000 $465,000 Lezzar's cost of leste accet $50,000 $350,000 $45.000 $465,000 Residual vals Ertinated fair value $50,000 Guaranteed fair value D $7,000 $7,000 $ 45.000 $ 50.000 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) Right of use Assestease Lease Payments Residual Value Guarantee PV of Lease Payments PV of Residual Valor Guarantee Liability Suation 1 + $ Situation 2 $ Situation 3 Situation 4 $ 0 $