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Please format answer exactly like the table. Each of the four independent situations below describes a sales-type lease in which annual lease payments of $160,000
Please format answer exactly like the table.
Each of the four independent situations below describes a sales-type lease in which annual lease payments of $160,000 are payable at the beginning of each year. Each is a finance lease for the lessee. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 1 9 93 Situation 3 10 113 10% 4 10 12% Lease term (years) Lessor's and lessee's interest rate Residual value: Estimated fair value Guaranteed by lessee $62,000 0 0 $9,200 $9, 200 $62,000 $72,000 Determine the following amounts at the beginning of the lease: (Round your intermediate and final answer to the nearest whole dollar amount.) Situation 2 A The lessor's 1. Total lease payments 2. Gross investment in the lease 3. Net investment in the lease The lessee's 4. Total lease payments 5. Right-of-use asset 6. Lease liability BStep by Step Solution
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