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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

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 of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)
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.
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