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. Cash Payment Payment Effective Interest Decrease in balance 13,000 13,000 13,000 13,000 13,000 13,000 13,000 13,000 13,000 13,000 7,918 7,359 6,738 6,050 5,285 4,437 3,495 13,000 5,082 5,641 6,262 6,950 7,715 8,563 9,505 Outstanding Balance 84,982 71,982 66,900 61,259 54,997 48,047 40,332 31,769 22, 264 What is the total effective interest paid over the term of the lease? Multiple Choice o $84,982 What is the total effective interest paid over the term of the lease? Multiple Choice O $84,982. O $130,000 $71,982 $45,019