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Each of the three independent situations below describes a finance lease in which annual lease payments are payable at the beginning of each year. The

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Each of the three 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 rate of return. Note: Use tables, Excel, or a financial calculator. (FV or S1, PV of \$1. EVA of S1, PVA of S1, EVAD of S1 and PVAD of S1) 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 liability, for each of the above situations. Note: Round your answers to the nearest whole dollar. Answer is complete but not entirely correct. Each of the three 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 rate of return. Note: Use tables, Excel, or a financial calculator. (FV or S1, PV of \$1. EVA of S1, PVA of S1, EVAD of S1 and PVAD of S1) 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 liability, for each of the above situations. Note: Round your answers to the nearest whole dollar. Answer is complete but not entirely correct

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