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, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 4 1 3 3 14% Situation 2 3 3 3 4 4 14% 14% 3 6 14% $ 8,000 Lease term (years) Asset's useful life (years) Lessor's implicit rate (known by lessee) Residual value: Guaranteed by lessee Unguaranteed Purchase option: After (years) Exercise price Reasonably certain? $ 4,000 $ 4,000 $ 8,000 none n/a n/a 2 $ 9,000 no 3 $ 3,000 no 3 $ 5,000 yes Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar.) Situation 1 2 3 4 $ 68,000 68,000 60,000 60,000 68,000 68,000 58,334 52,933 58,332 A. The lessor's 1. Lease payments 2. Gross investment in the lease 3. Net investment in the lease B. The lessee's: 4. Lease payments 5. Right-of-use asset 6. Lease payable 60,000 600,000 52.933 52,933 52.933 52,933