Each of the four independent situations below describes a sales-type lease in which annual lease payments of $15,000 are payable a 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 $ (Use appropriate factor(s) from the tables provided.) Situation 1 2 3 4 Lease term (years) 5 5 5 5 Asset's useful life (years) 5 6 6 8 Lessor's implicit rate (known by lessee) 8% 8% 8% 8% Residual value: Guaranteed by lessee Unguaranteed 0 0 $6,000 $3,000 0 0 $3,000 $6,000 Purchase option: After (years) none 4 4 4 Exercise price Reasonably certain? n/a n/a $8,000 $2,000 no $4,000 yes Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar.) A. The lessor's: Situation 2 3 4 1. Total lease payments $ 2. Gross investment in the lease 75,000 64,680 68,000 75,000 49,000 3. Net investment in the lease B. The lessee's: 4. Total lease payments 5. Right-of-use asset 6. Lease liability