Each of the four independent situations below describes a sales-type lease in which annual lease payments of $11,000 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 3 1 2 4 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? 6 6 6 6 6 9 7 7 11% 11% 11% 118 0 $4,400 $2,200 $2,200 0 0 0 $4,400 6 none $3,200 n/a $7,200 $1,200 n/a yes no no Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar.) Situation 1 2 4 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