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 lessee and there is no purchase option or guaranteed residual value. The asset has an expected economic life of 12 years. The lease is noncancelable Effective Interest Cash Outstanding Balance 72,469 62,469 57,466 52,064 46, 229 39,927 33,121 25,771 17, 833 Decrease in balance Payment Payment 1e,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 1e,000 4,998 4,597 4,165 3,698 3,194 2,650 2,062 10,000 5,002 5,403 5, 835 6,302 6,806 7,350 7,938 10 What is the total effective Interest pald over the term of the lease? Multiple Choice $62.469 $27,531 $72.469 $100,000