Each of the three independent situations below describes a finance lease in which annual lease payments are payable at the end of

each year. The lessee is aware of the lessor's implicit rate of return. $($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.$)$

Required:

a$.$ & b$.$ Determine the amount of the annual lease payments as calculated by the lessor and the amount the lessee would record as

a right$-$of$-$use asset and a lease l$$ability$,$ for each of the above situations. $($Round your answers to the nearest whole dollar.$)$