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Please help! Thank you chegg Each of the four independent situations below describes a sales-type lease in which annual lease payments of $160,000 are payable
Please help! Thank you chegg
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.) Situation 2 3 9 10 11% 103 9 95 10 12% Lease term (years) Lessor's and lessee's interest rate Residual value: Estimated fair value Guaranteed by lessee 0 0 $62,000 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.) Answer is not complete. Situation 2 3 1 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 1.440,000 1.440,000 1,045,571 $ 1,440,000 $1,600,000 1,502,000 1,609,200 1,007,616 1,109,202 1,600,000 1,672,000 B 1,600,000 1.440,000 1,045,571 1.045,571 1.440,000 983,379 983,379 1,600,000 983, 131
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