Each of the four independent situations below describes a sales-type lease in which annual lease payments of $10,000 are payable at the beginning of each year. Each is a finance lease for the lessee. Lease term (years) Asset's useful life (years) Lessor's implicit rate (known by lessee) Residual value: Guaranteed by lessee Unguaranteed A. The lessor's: 1. Total lease payments 2. Gross investment in the lease 3. Net investment in the lease B. The lessee's: 4. Total lease payments 5. Right-of-use asset 1 1 2 4 4 11% Determine the following amounts at the beginning of the lease: Note: Round your final answers to nearest whole dollar. Situation $0 $0 none 2 3 Situation 4 5 11% $ 4,000 $0 Purchase option: After (years) Exercise price Reasonably certain? Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) 3 $ 7,000 no 4 3 4 5 11% $ 2,000 $ 2,000 4 4 $ 1,000 no 4 7 11% $0 $ 4,000 3 $ 3,000 yes

Each of the four independent situations below describes a sales type lease in which annual lease payments of $10,000 are payable at the beginning of each year. Each is a finance lease for the lessee. Note: Use tables, Excel, or a financial calculator. (FV of \$1, PV of \$1. FVA of \$1, PVA of \$1, EVAD of \$1 and PVAD of \$1) Determine the following amounts at the beginning of the lease: Note: Round your final answers to nearest whole dollar