Multiple Choice

$$7\mathrm{.}658$

$$6\mathrm{.}394$

$$12\mathrm{.}000$

$$7,594$Refer to the following lesse amortization schedule. The $10$ psyments are made annually starting with the beginning of the lesse. Title does not

transfer to the lessee and there is no purchase option or guaranteed residusl value. The astet has an expected economic life of $12$ years. The lease

is nonconceloble.

What amount would the lessee record as annual amortization on the right$-$of$-$use ssset using the straight$-$line method?

Note: Pound your snuwer to the nearest whole doller.