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. Payment Cash Payment Effective Interest Decrease In balance Outstanding Balance 67,590 1234567690 10,000 10,000 57,590 10,000 5,759 4,241 53,349 10,000 5,335 4,665 48,684 10,000 4,868 5,132 43,552 10,000 4,355 5,645 37,907 10,000 3,791 6,209 31,698 10,000 3,170 6,830 24,868 8 10,000 2,487 7,513 17,355 10,000 ? ? ? 10,000 ? ? ? What is the total effective interest paid over the term of the lease? $32,410. $67,590. $100,000. None of the options listed $57,590