Each of the four independent situations below describes a sales-type lease in which annual lease payments of $175,000 are payable at the beginning of each year. Each is a finance lease for the lessee. (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.) Situation Lease term (years) Lessor s and lessee's interest rate Residual value: 12 14% 138 11% Estimated fair value Guaranteed by lessee $65,000 $9,500 $65,000 $9,500 $75,000 Determine the following amounts at the beginning of the lease (Round your intermediate and final answer to the nearest whole dollar amount.): Situation A The lessor's 1. Lease payments 2. Gross investment in the lease 3. Net investment in the lease s 1,400,0001,400,000 $ 1,575,0001,585,000 1,650,000 1,400,000 1,465,000 1,584,500 973,658 B The lessee's: 1,575,0001,585,000 4. Lease payments 5. Right-of-use asset 6. Lease payable 1,400,000 1,400,000 Each of the four independent situations below describes a sales-type lease in which annual lease payments of $175,000 are payable at the beginning of each year. Each is a finance lease for the lessee. (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.) Situation Lease term (years) Lessor s and lessee's interest rate Residual value: 12 14% 138 11% Estimated fair value Guaranteed by lessee $65,000 $9,500 $65,000 $9,500 $75,000 Determine the following amounts at the beginning of the lease (Round your intermediate and final answer to the nearest whole dollar amount.): Situation A The lessor's 1. Lease payments 2. Gross investment in the lease 3. Net investment in the lease s 1,400,0001,400,000 $ 1,575,0001,585,000 1,650,000 1,400,000 1,465,000 1,584,500 973,658 B The lessee's: 1,575,0001,585,000 4. Lease payments 5. Right-of-use asset 6. Lease payable 1,400,000 1,400,000