apter 15, Assignment 3 con-con&external browser-0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghm Seved 1 Lease term (years) Asset's useful life (years) Asset's fair value Situation 4 6 $44,000 5 $45,000 $41,000 $38,000 Purchase option that is reasonably certain to be exercised? No Yes No 01:33:49 Annual lease payments Lessor's implicit rate (known by lessee) Beg. of yr. 56 End of yr. 68 Beg. of y 59 2nd of yr. 64 Lessee's incremental borrowing rate 58 56 59 59 Book rinta ences Each of the four independent situations above describes a lease requiring annual lease payments of $10,000. For each situation, determine the appropriate lease classification by the lessee. (FV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (L appropriate factor(s) from the tables provided.) Situation Lease Classification 1. 2. 3. 4.