Exercise $15-24($Algo$)$ Calculation of annual lease payments; residual value $[$LO$15-2,15-6]$

Each of the four independent situations below describes a finance lease in which annual lease payments are payable at the beginning of each year. The lessee is aware of the lessor's implicit rate of return.

Note: Use tables, Excel, or a financlal calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

$\backslash$table$[[,$Situation$],[,1,2,3,4],[$Lease term $($years$),,4,,7,,5,,8],[$Lessor$\text{'}$s rate of return,,$10\%,,11\%,,9\%,,12\%$