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Each of the four independent situations below describes a sales-type lease in which annual lease...

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Each of the four independent situations below describes a sales-type lease in which annual lease payments of $15,500 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 3 3 10% Situation 2 3 3 3 4 4 10% 10% 4. 3 6 10% 0 $ 6,200 Lease term (years) Asset's useful life (years) Lessor's implicit rate (known by lessee) Residual value: Guaranteed by lessee Unguaranteed Purchase option: After (years) Exercise price Reasonably certain? $ 3,100 $ 3,100 0 $ 6,200 none n/a n/a 2 $ 8,100 no 3 $ 2,100 no 3 $ 4,100 yes Determine the following amounts at the beginning of the lease: (Round your final answers to nearest whole dollar.) Situation 1 2 3 4 A. The lessor's: 1. Total lease payments 2. Gross investment in the lease 3. Net investment in the lease B. The lessee's 4. Total lease payments 5. Right-of-use asset 6. Lease liability

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