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 1 2 3 4 5 6 7 10, eee 10, eee 10, eee 10,000 10,000 10,000 10, een 10,000 10,000 10, eee 6,091 5,661 5,183 4,654 4,065 3,413 2,688 ? ? 10,000 3,909 4,339 4,817 5,346 5,935 6,587 7,312 ? ? Outstanding Balance 65,370 55,370 51,461 47,122 42,305 36,959 31,024 24,437 17,125 9 10 ? What is the total effective interest paid over the term of the lease? Multiple Choice 0 $100,000 o $55,370. $34,630. O O $65,370