Each of the four independent situations below describes a sales-type lease in which annual lease payments of $115,000 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 2 8 Lease term (years) Lessor's and lessee's interest rate Residual value: 10% 12% 9% 11% Estimated fair value Guaranteed by lessee $53,000 $8, 300 $53,000 $8,300 $63,000 Determine the following amounts at the beginning of the lease (Round your intermediate and final answer to the nearest whole dollar amount.) Answer is complete but not entirely correct. Situation 2 A The lessor's $920,000S 920,000 1,035,000 1. Lease payments 2. Gross investment in the ease 3. Net investment in the lease B The lessee's 4. Lease payments 5. Right-of-use asset 6. Lease payable 1,088,000 920,000 973,000 1043,3001,098,000 674,868661,238 755,326731,432 920,000 674,868 639832751,504752,151 674,868 639,832 751,504752,151 920,000 1,035,0001,088,000