Each of the four independent situations below describes a sales-type lease in which annual lease payments of $110,000 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 1 2 3 4 Lease term (years) 7 7 8 8 Lessor's and lessee's interest rate 9% 11% 10% 12% Residual value: Estimated fair value Guaranteed by lessee $52,000 $8,200 $8,200 $52,000 $62,000 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 1 2 3 4 A The lessor's: 1. Total lease payments $ 770,000 2. Gross investment in the 770,000 $770,000 822,000 $ 880,000 $ 890,000 888,200 942,000 lease 3. Net investment in the lease 603,451 600,406 649,352 633,015 x