Each of the four independent situations below describes a sales-type lease in which annual lease payments of $120,000 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 S1, FVAD of $1 and PVAD of (Use appropriate factor(s) from the tables provided.) Situation 1 2 3 4Lease term (years) 9 9 10 10Lessor's and lessee's interest rate 11$ 13$ 12% 12%Residual value: Estimated fair value 0 $54,000 $8,400 $54,000Guaranteed by lessee 0 0 $8/,400 $64,000Determine the following amounts at the beginning of the lease Round your intermediate and final answer to the nearest whole dollar amount. Answer the missing part. Situation 1 2 3 4A. The lessor's: 1. Lease payments $1,080,000 $1,080,000 $1,200,000 2. Gross investment in the lease $1,080,000 $134,000,000 $1,208,400 1,264,0003. Net Investment in the lease 737,534 713,828 762,095 779,996B. The lessee's 4. Lease payments 1,080,000 1,080,000 1,200,000 5. Right-of-use asset 737,534 713,828 759,390 6. Lease payable 737,534 713,828 759,390