er 15 review part 2 Saved Help Save & Exit Submit Check my work Each of the four independent situations below describes a sales-type lease in which annual lease payments of $140,000 are payable at the beginning of each year. Each is a finance lease for the lessee. (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.) Situation 113 Lease term (years) Lessor's and lessee's interest rate Residual value: Estimated fair value Guaranteed by lessee $58,000 $8,800 $8,800 $58,000 $68,000 Determine the following amounts at the beginning of the lease: (Round your intermediate and final answer to the nearest whole dollar amount.) ces Situation The lessor's: 1. Total lease payments 2. Gross investment in the lease 3. Net investment in the lease The lessee's: 4. Total lease payments 5. Right-of-use asset 6. Lease liability B