Each of the independent situations below describes a finance lease in which annual lease payments are payable at the beginning of each year. The lessee is aware of the lessor's implicit interest rate.. Situation 1 Lessee 2 Lessor 10 yrs. 20 yrs. Lease ter Lessor's desired rate of return Lessee's incremental borrowing rate Fair value of asset 10% 12% 12% 5600, eee $400, eee For convenience, here are some table values: Periods int. rate 10 periods, 10% 10 periods, 12% 20 periods, 10% 2e periods. 12 PV, ordinary annuity 6.1446 5.65e2 8.5136 - 7.4694 PV. annuity due 6.2590 6.3283 9.3649 8.3658 Required: For each situation determine the amount of the annual lease payment, as calculated by the lessor (Round your answers to the nearest whole dollar amounts.) Situation 1 Situation 2 Annual lease payment