Question: I need help figuring out situation #4. I can't figure out the lease payment. Exercise 15-24 (Algo) Calculation of annual lease payments; residual value [
Exercise 15-24 (Algo) Calculation of annual lease payments; residual value [ LO15-2, 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 financial calculator. (FV of $1, PV of $1, EVA of $1, PVA of $1, EVAD of $1 and PVAD of $1) Required: o. \& b. Determine the amount of the annual lease payments as calculated by the lessor and the amount the lessee would record as a right-of use asset and a lease liability, for each of the above situations. Note: Round your answers to the nearest whole dollor amount
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