eflook Hint Ask Print eferences $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Situation 3 Lease term (years) Lessor's rate of return Fair value of leased asset 11% 4 12% 3 10% $ 64,000 $422,000 $187,000 Lessor's cost of leased asset $ 52,000 $422,000 $ 147,000 Purchase option: Exercise price $12,000 $ 52,000 $ 24,000 Exercisable at end of year: Reasonably certain? 4 yes 4 2 yes Check my wor Determine the annual lease payments for each situation: (Round your intermediate and final answers to the nearest whole dollar amount.) Annual lease payments Situation 1 $ 16,321 Situation 2 S 114,503 Situation 3