I just need help with the total lease payements for the lessee in situation 4.

Each of the four independent situations below describes a sales type lease in which annual lease payments of $12,000 are payable at the beginning of each year. Each is a finance lease for the lessee. (EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of S1 and PVAD of S.1) (Use appropriate factor(s) from the tables provided.) 1 5 5 98 Situation 2 3 5 5 6 5 9% 9% 4 S 8 9* Lease ters (years) Asset's useful life (years) Lessor's implicit rate (known by lessee) Residual value: Guaranteed by lessee Unguaranteed Purchase option: After (years) Exercise price Reasonably certain? $ 4,800 e $ 2,400 $2,400 e $4,800 none n/a n/a 4 $ 7,400 no 5 $1,400 no 3 $3,400 yes Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar) Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar.) x Answer is complete but not entirely correct. Situation 2 1 3 A 60.000 The lessor's 1 Total lease payments 2 Gross investment in the lease 3 Net investment in the lease > $ 60,000 60,000 50,877 60,000 64.800 53,996 39,400 39,400 64 800 OO 53,996 35,735 B The lossee's 4. Total lease payments 5 Right-of-use asset 6 Lease liability 60,000 50,877 50,877 60,000 50,877 50,877 60,000 50,877 50,877 39,400 35,735 OO 00 35,735