Each of the four independent situations below describes a sales-type lease in which annual lease payments of $20,000 are payable at the beginning of each year. Each is a finance lease for the lessee. (FV of $1. PV of $1. EVA of $1, PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Situation 1 2 3 4 Lease term (years) Asset's useful life (years) 3 3 3 3 3 4 4 6 Lessor's implicit rate (known by lessee) 8 88 Residual value: Guaranteed by lesseet 0 $8,000 Unguaranteed 0 $4,000 $4,000 0 $8,000 Purchase option: After (years) none 2 2 2 Exercise price Reasonably certain? n/a n/a $9,000 $3,000 $5,000 yea Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar.) 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 Situation 2 3