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Each of the four independent situations below describes a sales-type lease in which annual lease payments of $165,000 are payable at the beginning of each

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Each of the four independent situations below describes a sales-type lease in which annual lease payments of $165,000 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 1 2 3 4 Lease term (years) 6 6 7 7 10% Lessor's and lessee's interest rate 12% 9 % 11% Residual value: Estimated fair value $63,000 $9,300 $9,300 $63,000 $73,000 Guaranteed by lessee 0 Determine the following amounts at the beginning of the lease (Round your intermediate and final answer to the nearest whole dollar amount.): Situation 1 2 4 The lessor's 1. Lease payments 2. Gross investment in the lease 3. Net investment in the lease The lessee's: A S 990,000 990,000 1,155,0001,218,000 990,000 1,053,000 1,164,300 1,228,000 910,264 790,480 791,706 B 4. Lease payments 990,000 990,000 1,155,000 905,177 905,177 759,789 5. Right-of-use asset 6. Lease payable 790,480 790,480 759,789

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