Each of the four independent situations below describes a sales-type lease in which annual lease payments of $13,500 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)		5			5			5			5
Assets useful life (years)		5			6			6			8
Lessors implicit rate (known by lessee)		11	%		11	%		11	%		11	%
Residual value:
Guaranteed by lessee		0		$	5,400		$	2,700			0
Unguaranteed		0			0		$	2,700		$	5,400
Purchase option:
After (years)		none			4			5			3
Exercise price		n/a		$	7,700		$	1,700		$	3,700
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.)

			Situation
			1	2	3	4
A.	The lessors:
	1.	Lease payments	$67,500
	2.	Gross investment in the lease	67,500
	3.	Net investment in the lease
B.	The lessees:
	4.	Lease payments
	5.	Right-of-use asset
	6.	Lease payable