Each of the four Independent situations below describes a sales-type lease in which annual lease payments of $10,000 are payable at 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 $1 and PVAD) (Use appropriate factor(s) from the tables provided .)

Please include calculations. Thanks!

Check my work mode: This shows what is correct or in Each of the four independent situations below describes a sales-type lease in which annual leas the beginning of each year. Each is a finance lease for the lessee. (FV of $1. PV of $1. FVA of $1. (Use appropriate factor(s) from the tables provided.) Situation 1 4 2 4 3 4 4 4 11% 4 7 5 11% 5 11% 11% Lease term (years) Asset's useful life (years) Lessor's implicit rate (known by lessee) Residual value: Guaranteed by lessee Unguaranteed Purchase option: After (years) Exercise price Reasonably certain? $ 4,000 e $2,000 $ 2,000 $ 4,000 none n/a n/a 3 $7,000 $1,000 3 $ 3,00 yes no no Determine the following amounts at the beginning of the lease (Round your final answers to nec Answer is complete but not entirely correct. Situation 2 3 . $ 40.000 $ 33,000 The lessor's 1 Total lease payments 2 Gross investment in the lease 3 Net Investment in the lease 40.000 $ 44.000 X $ 42,000 44,000 44,000 37,072 37,072 Xolo 34 437 37.000 32 244 B The lessee's 4. 40,000 33,000 X 5. Total lease payments Right-of-use asset Lease ability 34,437 44,000 42,000 37 072 5,755 % 37,072 3 35755 29 319 6 34,437 29,319