Help Save & Exit 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 lessen 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 91,519 1234565120 14,000 14,000 77,519 14,000 8,527 5,473 72,046 14,000 7,925 6,075 65,971 14,000 7,257 6,743 59,228 14,000 6,515 7,485 51,743 14,000 5,692 8,308 43,435 7 14,000 4,778 9,222 34,213 8 14,000 3,763 10,237 23,976 9 10 14,000 14,000 P ? ? ? ? ? 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.) Multiple Choice Help Save & Exit 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 lessen 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 91,519 1234565120 14,000 14,000 77,519 14,000 8,527 5,473 72,046 14,000 7,925 6,075 65,971 14,000 7,257 6,743 59,228 14,000 6,515 7,485 51,743 14,000 5,692 8,308 43,435 7 14,000 4,778 9,222 34,213 8 14,000 3,763 10,237 23,976 9 10 14,000 14,000 P ? ? ? ? ? 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.) Multiple Choice