Each of the four independent situations below describes a sales-type lease in which annual lease payments of $200,000 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.) 1 9 12% Situation 2 3 10 14% 10% 4 10 11% Lease term (years) Lessor's and lessee's interest rate Residual value: Estimated fair value Guaranteed by lessee $70,000 $10,000 $10,000 $70,000 $80,000 Determine the following amounts at the beginning of the lease: (Round your intermediate and final answer to the nearest whole dollar amount.) Situation 2 3 A $ 1,800,000 5 1,800,000 $2,000,000 1,800,000 1,193,528 The lessor's: 1. Total lease payments 2. Gross investment in the lease 3. Net investment in the lease The lessee's: 4. Total lease payments 5. Right-of-use asset 6. Lease liability B 1,800,000 2,000,000 1,800,000 1,193,528 1,193,528