Exercise 15-26 (Algo) Lease concepts; finance/sales-type leases; guaranteed and unguaranteed residual value (LO15-2, 15-6] Each of the four independent situations below describes a sales-type lease in which annual lease payments of $150,000 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.) 4 1 7 12% Situation 2 3 7 8 14% 10% 8 10% Lease term (years) Lessor's and lessee's interest rate Residual value: Estimated fair value Guaranteed by lessee $60,000 0 $9,000 $9,000 $60,000 $70,000 0 Determine the following amounts at the beginning of the lease: (Round your intermediate and final answer to the nearest whole dollar amount.) Situation 1 2 3 4 A The lessor's 1. Total lease payments 2. Gross investment in the lease B 3. Net investment in the lease The lessee's 4. Total lease payments 5. Right-of-use asset 6. Lease liability