Euro Co. leased vehicles from Winters Co. on January 1, 2021, which is classified as an operating lease. The present value of the lease payments discounted at 10% was $89,200. Ten annual lease payments of $13,200 are due at each January 1 beginning January 1, 2021. The amortization of the right-of-use asset for the reporting year ending December 31, 2021, would be: Multiple Choice $13,200. $5,600. $7,600. $8,920.