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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

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.)
\table[[,Situation],[,1,2,3,4],[Lease term (years),6,9,7,10],[Lessor's rate of return,108,118,98,128],[Fair value of lease asset,$58,000,$358,000,$83,000,$473,000
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