Each of the four independent situations below describes a sales-type lease in which annual lease payments of $160,000 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.) 1 9 93 Situation 3 9 10 113 103 4 10 12% Lease term (years) Lessor's and lessee's interest rate Residual value: Estimated fair value Guaranteed by lessee 0 0 $62,000 0 $9, 200 $9, 200 $62,000 $72,000 Determine the following amounts at the beginning of the lease: (Round your intermediate and final answer to the nearest whole dollar amount.) Answer is not complete. Situation 1 2 3 4 A The lessor's 1. Total lease payments $ 1,440,000 1,440,000 $ 1,440,000$ 1,600,000 1,600,000 1,502,000 1,609,200 1,672,000 1,045,571 1,007,616 1,109,202 B 2. Gross investment in the lease 3. Net investment in the lease The lessee's: 4. Total lease payments 5. Right-of-use asset 6. Lease liability 1,600,000 1,440,000 1,045,571 1,045,571 1,440,000 983,379 983,379 1,600,000 983,131 X