Each of the four independent situations below describes afinance lease in which annual lease payment
Each of the four independent situations below describes afinance lease in which annual lease payments are payable at thebeginning of each year. The lessee is aware of the lessor’simplicit rate of return. (FV of $1, PV of $1, FVA of $1, PVA of $1,FVAD of $1 and PVAD of $1) (Use appropriate factor(s) fromthe tables provided.) Required:
a. & b. Determine the amount of the annuallease payments as calculated by the lessor and the amount thelessee would record as a right-of-use asset and a lease liability,for above situations. (Round your PV factor answers to 5decimal places and other answer to nearest wholedollar.) . . .