Please answer all 4. Thank you!!

Southern Equipment leases cooling towers to Heating Corporation. The equipment is not specialized and is delivered on January 1, 2019. The fair value of the equipment is $180,000. The cost of the equipment to Southern is $170,000 and the expected life of the testing equipment is 8 years. At the end of the useful life, it is expected that the equipment will have a residual value of $20,000, although the lessee guarantees only $15,000. Southern incurs initial direct costs of $20,000, which they elect to expense. The lease term for the equipment is 8 years, with the first payment due upon delivery, and seven subsequent annual payments beginning on December 31 2019 and ending on December 31, 2025. SouthemA implicit rate is 8% and they expect that collection of the $25,000 payments is probable. The lease is properly classified as a sales-type lease. What amount will be recorded for cost of goods sold? (Round any present value calculations to the nearest dollar, and round any percentages two decimal places, X.XX%.) 1. $172.301 $152,855 $167,699 $180,000 2. Southern Equipment leases cooling towers to Heating Corporation. The equipment is not specialized and is delivered on January 1, 2019. The fair value of the equipment is $180,000. The cost of the equipment to Southern is $170,000 and the expected life of the testing equipment is 8 years. At the end of the useful life, it is expected that the equipment will have a residual value of $20,000, although the lessee guarantees only $15,000. Southern incurs initial direct costs of $20,000, which they elect to expense. The lease term for the equipment is 8 years, with the first payment due upon delivery, and seven subsequent annual payments beginning on December 31, 2019 and ending on December 31, 2025. SouthsmA implicit rate is 8% and they expect that collection of the $27,000 payments is probable. The lease is properly classified as a sales-type lease. What is the amount of the lease receivable? (Round any present value calculations to the nearest dollar, and round any percentages two decimal places, X.XX%.) $172,326 $180,000 $167,674 C $165,251