Each of the four independent situations below describes a sales-type lease in which annual lease payments of $11,500 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) 4 4 4 4

Assets useful life (years) 4 5 5 7

Lessors implicit rate (known by lessee) 12 % 12 % 12 % 12 %

Residual value:

Guaranteed by lessee 0 $ 4,600 $ 2,300 0

Unguaranteed 0 0 $ 2,300 $ 4,600

Purchase option:

After (years) none 3 4 3

Exercise price n/a $ 7,300 $ 1,300 $ 3,300

Reasonably certain? n/a no no yes

Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar.)