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Each of the four independent situations below describes sales-type lease in which annual lease payments of $160,000 are payable at the beginning of each

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Each of the four independent situations below describes 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. (EV of $1. PV of $1. EVA of $1 PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Situation Lease term (years) 2 3 4 9 9 Lesson's and lessee's interest rate Residual value: 10 10 9% 11% 10% 12% Estimated fair value e $62,000 $9,200 $62,000 e $9,200 $72,000 Guaranteed by lessee Determine the following amounts at the beginning of the lease: (Round your intermediate and final answer to the nearest whole dollar amount.) A The lessor's 1. Total lease payments 2. Gross investment in the lease 3. Net investment in the lease B The lessee's: 4. Total lease payments 5. Right-of-use asset. 6. Lease liability Situation 3

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