Each of the four independent situations below describes a sales-type lease in which annual lease payments of $16,500 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 5 5 12% Situation 2 3 5 5 6 6 12% 12% 4 5 8 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? $ 6,600 $ 3,300 $3,300 $ 6,600 none n/a n/a 4 $ 8,300 no 5 $ 2,300 no 3 $ 4,300 yes Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar.) Answer is not complete. Situation 2 3 A. $ 82,500 82,500 89,100 82,500 82,500 89,100 70,802 The lessor's: 1. Total lease payments Gross investment in the 2. lease 3. Net investment in the lease The lessee's: 4. Total lease payments 5. Right-of-use asset 6. Lease liability 82,500 89,100 70,802 66,611 70,802 B. 82,500 82,500 82,500 82,500