Giamartino, Inc. (lessee) and Larrys Leasing (lessor) want to enter into a 7-year, non-cancelable lease for a crane. The lease would require 7 annual payments paid at the beginning of each year. The fair value of the crane today is $5,000,000 and at the end of year 7, Larrys Leasing, Inc. expects the residual value to be $400,000. Larrys implicit rate is 6% and Giamartinos rate is 8%. The economic useful life of the crane is 9 years. There are no significant uncertainties surrounding the collectability of lease payments or costs to provide the leased item under the anticipated lease agreement. a.) Calculate the lease payment required by Larrys Leasing if the item is returned and is NOT guaranteed by Giamartino, Inc. b.) Calculate the lease payment required by Larrys Leasing if the item is returned and is guaranteed by Giamartino, Inc. c.) Calculate the lease payment required by Larrys Leasing if the item is NOT returned and title is transferred to Giamartino, Inc. at lease end. d.) What amount of Lease Receivable does Larrys Leasing record in each of the three different scenarios?