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 1 2 8 00 00 N UAWN 3 4 5 6 7 8 9 10 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 Effective Interest 6,394 5,961 5,476 4,934 4,326 3,645 2,882 ? ? Decrease in balance 10,000 3,606 4,039 4,524 5,066 5,674 6,355 7,118 ? ? Outstanding Balance 63,282 53,282 49,676 45,637 41,113 36,047 30,373 24,018 16,900 ? ? 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 whole dollar.)

Refer to the following lease amortization schedule. The 10 payments are made annually starting with the beginning of the lease. Title does not transferto 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. 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 whole dollac.)