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 Effective Interest Decrease in balance Payment DOWN 11,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000 7,033 6,557 6,024 5,427 4,758 4,209 3,170 11,000 3,967 4,443 4,976 5,573 6,242 6,991 7,830 Outstanding Balance 69,611 58,611 54,644 50,201 45,225 39,653 33,411 26,420 18,591 What amount would the lessee record as annual amortization on the right-of-use asset using the straight-line method? (Round your answer to the nearest dollar.)