Refer to the fol wing lease amortization schedule The payments are made annually starting with the be nning 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 lite of 12 years. The lease is noncancelable. 101,456 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 7,003 7,564 8,169 8, 822 9,528 10,290 80,453 72,889 64,720 55, 898 46,370 36,079 24,966 5,831 3,710 2,886 10 balance after payment 107 Multiple Choice $14000 $1.037