Each of the four independent situations below describes a sales-type lease in which annual lease payments of $11,500 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.) N 1 4 4 12% Situation 3 4 4 5 5 12% 12% 4 4 7 12% 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? 0 0 $4,600 0 $2,300 $2,300 0 $4,600 none n/a n/a 3 $ 7,300 4 $1,300 no 3 $3,300 no yes Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar.) Situation 2 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