Checkm 30 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. 2 points Effective Interest Cash Payment Decrease in balance 8 02:31:41 Payment 1 2 | 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 7,673 7,153 6,572 5,920 5,191 4,374 3,459 ? 12,000 4,327 4,847 5,428 6,080 6,809 7,626 8,541 ? ? Outstanding Balance 75,939 63,939 59,612 54,765 49,337 43,257 36,448 28,822 20, 281 ? ? 7 8 9 10 ? 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 dollar.) 30 What amount would the lessee record as annual amortization on the right-of-use asset using the straight-line method? (Round yqur answer to the nearest dollar.) 2 points Points Multiple Choice 8 023124 $12,000. O $6,394 $7,658 $7,594