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. EVA of $1. PVA of $1. EVAD of $1 and PVAD $1) (Use appropriate factor(s) from the tables provided.) Situation 2 3 4 4 7 5 8 10% 115 9 125 $50,000 $350,000 $75,000 5465,000 550,000 $350,000 $45,000 $465,000 Lease tere (years) Lessor's rate of return Fair value of lease asset Lesson's cost of lease asset Residual value Estimated fair value Guaranteed fair value Book $50,000 0 0 $7,000 5.7.000 $ 45,000 550,000 Hint Pri 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.)