Each of the four independent situations below describes a sales-type lease in which annual lease payments of $150,000 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 O $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided) 7 12 Situation 2 3 7 8 140 100 8 100 Lease term (years) Lessor's and lessee's interest rate Residual values Estimated fair value Guaranteed by lessee 0 0 $60,000 0 $9,000 $9,000 $60,000 $70,000 Determine the following amounts at the beginning of the lease: (Round your Intermediate and final answer to the nearest whole dollar amount.) Situation $ 1,050,000 5 1,050,000 5 1,200,000 $1,200,000 1,050.000 1.110,000 767.279 884.462 A The lessor's 1. Total lease payments 2. Gross investment in the lease 3. Net investment in the lease B The losseo's 4. Total lease payments 5. Right-of-use asset 6. Lease liability 1,050,000 1.050.000 1.200.000 880,263 880,263 1,210,000 884,928 884,928