When a lessee makes an entry at the beginning of a lease, which of the following are included in the amount that will be recorded as both a right-of-use asset and a lease liability? (Select all that apply.) 

Check All That Apply 

1. Fair value of the asset leased

2. Present value of a cash payment expected to be made at the end of the lease term because of a guaranteed residual value 

3. Present value of expected residual value 

4. Present value of periodic lease payments 

5. Sum of the payments made over the term of the lease