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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

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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 Effective Decrease Outstanding Payment Payment Interest in balance Balance 81,108 12.000 12,000 69,108 12,000 6911 5089 64,019 12,000 6402 5598 58,421 12.000 5842 6158 52 263 12,000 5226 6774 45,489 12,000 4549 7451 38,038 12,000 3804 8196 29,842 12.000 2984 9016 20.826 12,000 10 12,000 What is the outstanding balance after payment 92 (Round your answer to the nearest dollar.) O $6000 O $10,000 O $20,826 O $9917

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