Each of the four independent situations below describes a sales-type lease in which annual lease payments of $18,000 are payable at the beginning of each year. Each is a finance lease for the lessee.

Lease term (years) 5 Asset's useful life (years) 8 Lessor's implicit rate (known by lessee) 16% Residual value: Guaranteed by lessee 6 Unguaranteed I $ 3', 268 Purchase option: After (years) 3 Exercise price I: $ 4; 593 Reasonably certain? " yes Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar.) Situation 1 2 3 4 A. The lessor's: 1. Total lease payments $ 90,000 90,000 90,000