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Each of the Independent Situations Below Describes a Finance Lease

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Each of the 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 interest rate.
Each of the 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 interest rate. Required: For each situation determine the amount recorded as a liability by the lessee at the beginning of the lease.
Required: For each situation determine the amount recorded as a liability by the lessee at the beginning of the lease.

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Situation 1:
PV of an annuity due of $1,...

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