Each of the four independent situations below describes a sales-type lease in which annual lease payments of $100,000 are payable at the beginning of each year. Each is a finance lease for the lessee. Determine the following amounts at the beginning of the lease A. The lessor's 1. Lease payments 2. Gross investment in the lease 3. Net investment in the lease B. The lessee's 4. Lease payments 5. Right-of-use asset Situation 3 4 8 12% 7 11% 6. Lease liability Lease term Lessor's and lessee's interest rate Residual value 9% 10% Estimated fair value Guaranteed by lessee 0 $50,000 $8,000 $50,000 $8,000 $60,000 0