a. 14,000

b. 7,460

c. 8,924

d. 8,860

Refer to the following lease amortization schedule. The 10 payments are made annually starting with the beginning of the lease, Title does not transfer to the lessee and there is no purchase option or guaranteed residual value. The asset has an expected economic life of 12 years. The lease is noncancelable Cash Effective Decrease Outstanding Payment Payment Interest in balance Balance 88,595 1 14,000 14,000 74,595 14,000 8,951 5,049 69,546 14,000 8,346 5,654 63,892 14,000 7,667 6,333 57,559 5 14,000 6,907 7,093 50,466 14,000 6,056 7,944 42,522 14,000 5,103 8,897 33,625 14,000 4,035 9,965 23,660 9 14,000 7 2 10 14,000 2 3 4 6 7 8 ? 7 2 What amount would the lessee record as annual amortization on the right of use asset using the straight line method? (Round your answer to the nearest whole dollar.)