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Refer to the following lease amortization schedule. The 10 payments are made annually starting with the beginning of the lease. The does not transfer to

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Refer to the following lease amortization schedule. The 10 payments are made annually starting with the beginning of the lease. The does not transfer to the lesseerd there is no purchase option or guaranteed residual value. The asset has an expected economic life of 12 years. The tease is no cancelable Cash Payment Effective Interest Decrease In balance 1 2 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 4 5 6 7 8 19 10 6,990 1,436 5,031 5,178 4,472 3,710 2,886 Outstanding Balance 101,456 87,456 10,452 72,85 64,719 55,897 46,369 36,079 24,965 14,000 7,004 7,564 8,169 3,822 9,525 10,290 2 2 What would be the outstanding balance after payment 10

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