Each of the four independent situations below describes a sales-type lease in which annual lease payments of $150,000 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	12%	14%	10%	10%
Residual value:
Estimated fair value	0	$60,000	$9,000	$60,000
Guaranteed by lessee	0	0	$9,000	$70,000

Determine the following amounts at the beginning of the lease: (Round your intermediate and final answer to the nearest whole dollar amount.) Situation 12 A $ $ 1,050,000 1,050,000 766,712 $ 1,050,000 1,110,000 1,200,000 1,209,000 884,462 $1,200,000 1,270,000 912,919 The lessor's: 1. Lease payments 2. Gross investment in the lease 3. Net investment in the lease The lessee's: 4. Lease payments 5. Right-of-use asset 6. Lease liability 1,050,000 1,200,000 1,050,000 766,712 766,712