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. Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1. FVAD of $1 and PVAD of $1) 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 1 Situation 2 Situation 3 Situation 4 1 Lease Payments 4 10% $ 70,000 $ 70,000 Residual Value Guarantee 0 0 2 Situation 7 11% $ 370,000 $ 370,000 $ 70,000 PV of Lease Payments 0 3 5 9% $ 95,000 $ 65,000 $ 27,000 $ 27,000 Required: a. & b. Determine the amount of the annual lease payments as calculated by the lessor and the amount the lessee would recom right-of-use asset and a lease liability, for each of the above situations. Note: Round your answers to the nearest whole dollar amount. 4 PV of Residual Value Guarantee 8 12% $ 485,000 $ 485,000 $ 39,000 $ 44,000 Right-of-use Asset/Lease Liability

Each of the four independent situations below describes a finance lease in which annual lease poyments are payble ut the bagrning of each year. The lessee is aware of the lessor's implicit rate of return. Note: Use tables, Excel, or a financial calculator. (FV of \$1, PV of \$1. EVA of \$1, PVA of \$1, EVAD of SI and PVAD ofSSI Required: a. \& b. Determine the amount of the annual lease payments as calculated by the lessor and the amount the lessee would reco right-of-use asset and a lease liability, for each of the above situations. ...n ir answers to the nearest whole dollar amount