https://ezto.mheducation.com/ext/map/I Saved Apply: Homework [due day 7] 3 Each of the four independent situations below describes a sales-type lease in which annual lease payments of $20,000 are payable at the beginning of each year. Each is a finance lease for the lessee. (FV of $1, PV of $1, EVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Situation 2 N LU 4 Lease term (years) 3 Asset's useful life (years) 4 4 6 Lessor's implicit rate (known by lessee) 86 ook Residual value: Guaranteed by lessee $ 8,000 $ 4, 900 10 Unguaranteed $ 4,000 $ 8,000 Purchase option: After (years) none 12 3 Exercise price n/a $ 9,000 $ 3, 000 $ 5,000 Reasonably certain? in/8 no no yes ences Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar.) Situation 1 2 3 4 A. The lessor's: 1. Total lease payments 2. Gross investment in the lease 3. Net investment in the lease B. The lessee's: 4. Total lease payments 5. Right-of-use asset 6. Lease liability