Each of the four independent situations below describes a finence 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 of $1) (Use appropriate factor(s) from the tables provided.) Situation 2 3 4 Lease term (years) Lessor's rate of return 5 9% 8 6 9 10% 8% 11% Fair value of lease asset $62,000 Lessor's cost of lease asset $62,000 $362,000 $87,000 $477,000 $362,000 $57,000 $477,000 Residual value: Estinated fair value Guaranteed fair value $ 62,000 $19,000 $31,000 $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.) Right-of-use AssetLease Residual Value Lease Payments PV of Lease PV of Residual Guarantee Payments Value Guarantee Liability Situation 1 $ of $ 62,000 $ 0 $ 62,000 Situation 21 $ 0 S 0 $ 0 Situation 3 $ 0 $ 0 $ 0 Situation 4 $ 0