Help Save & Exit Su Refer to the following lease amortization schedule. The five payments are made annually starting with the beginning of the lease. A $2.600 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 Lease Payment Cash Payment Effective Decrease in Outstanding Interest Balance Balance 41,236 1 8,800 ?? ?? 32,436 2 8,800 1,946 6,854 25,582 3 8,800 1,535 7,265 18,317 4 8,800 1,099 7,701 10,616 5 8,800 ?? ?? ?? 6 2,600 147 2,453 What amount would the lessee record as annual amortization on the asset using the straight-line method, assuming no residual value? (Round your answer to the nearest whole dollar.) Multiple Choice $4,054