Each of the four independent situations below describes a sales-type lease in which annual lease payments of $11,500 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 4 4 12% Situation 2 3 4 4 5 5 12% 12% 4 4 7 12% 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? $4,600 $ 2,300 $ 2,300 $ 4,600 none n/a n/a $ 7,300 no 4 $ 1,300 no 3 $ 3,300 yes Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar.) Situation 1 2 3 4 $ 46,000 46,000 39,121 46,000 50,600 42,044 46.000 50,600 42,044 37,800 37,800 33,284 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 6. Lease liability 46,000 39,121 39,121 46,000 39,121 39,121 46.000 39,121 39,121 33,284 33,284