HA21-5 (Classification and Measurement with Unguaranteed and Guaranteed Residual Value) Each of the four independent situations below describes terms of a finance lease for the lessee and a sales-type leae for the lessor. The lessee is aware of the lessor's implicit interest rate. The lease commences on January 1, 2020 with tie rental payments due on January 1, 2020 and then on December 31 through the end of the lease. Situation 3. 2. 4. 4 years 6% 4 years 6% 4 years 4 years 6% 13,612.81 Lease term 6% Lessor's implicit rate Annual rental payment 13,612.81 13,612.81 13,612.81 Residual value: 5,000 5,000 3,000 5,000 Estimated value 5,000 Guaranteed value 5,000 Unguaranteed value Instructions For each situation: (a) () Determine the present value of the lease payment(s) for classification of the lease for the lessee. Determine the Determine the present value of the lease payment(s) for measurement of the liability for the lessee. Determine the present value of the lease payment(s) for measurement of the receivable for the lessor. present value of the lease payment(s) for classification of the lease for the lessor. (c) (d)