Determine the following amounts at the beginning of the lease. (Round your intermediate and final answers to the nearest whole dollar amount.) Situation 2 The lessor's: 1. Lease payments 2. Gross...

consider $175,000 as lease payment

Extracted text: Determine the following amounts at the beginning of the lease. (Round your intermediate and final answers to the nearest whole dollar amount.) Situation 2 The lessor's: 1. Lease payments 2. Gross investment in the lease 3. Net investment in the lease The lessee's: 4. Lease payments 5. Right-of-use asset 6. Lease payable


Extracted text: Each of the four independent situations below describes a sales-type lease in which annual lease payments of 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, FV $1) (Use appropriate factor(s) from the tables provided.) Situation 1 2 3 4 Lease term (years) Lessor's and lessee's interest rate 7 7 8 8 10% 12% 11% 11% Residual value: $9,800 $9,800 $68,000 $78,000 Estimated fair value $68,000 Guaranteed by lessee Determine the following amounts at the beginning of the lease: (Round your intermediate and final answer to dollar amount.)