following lease amortization schedule. The five payments are made annually, starting with the beginning of the lease. A $2,200 purchase option is reasonably certain to be exercised at the end of the five-year lease. The asset has an expected economic life of eight years Decrease in Balance Lease Cash Payment Payment Effective Interest Outstanding Balance 31,560 1 6,700 ?? ?? 24,860 2 6,700 1,492 5,208 19,652 3 6,700 1,179 5,521 14,131 4 6,700 848 5,852 8,279 5 6,700 22 ?? ?? 6 2,200 125 2,075 0 What is the outstanding balance after payment 5? Multiple Choice $2,075. $2,200. D