Each of the four independent situations below describes a sales-type lease in which annual lease payments of $12,000 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 1 Lease term (years) Asset's useful life (years) Lessor's implicit rate (known by lessee) Residual value: 13% 13% 13% 13% $ 2,400 Guaranteed by lessee Unguaranteed 0 4,800 0 2,400 4,800 Purchase option: After (years) Exercise price Reasonably certain? 4 one n/a n/a 7,400 1,400 3,400 yes Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar.) Situation 4 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 6. Lease payable Each of the four independent situations below describes a sales-type lease in which annual lease payments of $12,000 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 1 Lease term (years) Asset's useful life (years) Lessor's implicit rate (known by lessee) Residual value: 13% 13% 13% 13% $ 2,400 Guaranteed by lessee Unguaranteed 0 4,800 0 2,400 4,800 Purchase option: After (years) Exercise price Reasonably certain? 4 one n/a n/a 7,400 1,400 3,400 yes Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar.) Situation 4 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 6. Lease payable