(Note: This is a variation of E 15-9 modified to assume lease payments are at the end of each period.) Lessor calculation Each of the three independent situations below describes a finance lease in which annual lease payments are paydennual lease able at the end of each year. The lessee is aware of the lessor's implicit rate of return. parments; lessee clcalation of asset and liability s L015-2 Required: For each situation, determine: a. The amount of the annual lease payments as calculated by the lessor. b. The amount the lessee would record as a right-of-use asset and a lease liability