rk Chapter 15 Help Save & Exit Sub Each of the three independent situations bel beginning of each year. The lessee is aware lessor and PVAD of $1) (Use appropriate factor(s) from the tables provided.) low describes a finance lease in which annual lease payments are payable at the f the lessor's implicit rate of return. (FV of $1 PV of $1, FVA of S!, PVA of$ Situation Lease term (years) Lessor's rate of return (known by lessee) Lessee's incremental borrowing rate Fair value of lease asset 10 18% 11% 20 8% 9% $778,000 $1,150,000 $355,000 11% 18% Required a. & b. Determine the amount of the annual lease payments as calculated by the lessor and the amount the lessee would r right-of-use asset and a lease liability, for above situations. (Round your answers to nearest whole dollar.) as a Payable Situation 3 to search