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.

Payment	Cash Payment	Effective Interest	Decrease in balance	Outstanding Balance
				$ 71,908
1	$ 11,000	$ 0	$ 11,000	60,908
2	11,000	6,700	4,300	56,608
3	11,000	6,227	4,773	51,835
4	11,000	5,702	5,298	46,537
5	11,000	5,119	5,881	40,656
6	11,000	4,472	6,528	34,128
7	11,000	3,754	7,246	26,882
8	11,000	$ 2,957	$ 8,043	$ 18,839
9	11,000	?question mark	?question mark	?question mark
10	$ 11,000	?question mark	?question mark	?question mark

What would be the outstanding balance after payment 10?

Multiple Choice

$9,910

$0

$1,090

$11,000