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Refer to the following lease amortization schedule. The five payments are made annually starting with the beginning of the lease. A $2,300 purchase option is

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Refer to the following lease amortization schedule. The five payments are made annually starting with the beginning of the lease. A $2,300 purchase option is reasonably certain to be exercised at the end of the five-year lease. The asset has an expected economic life of eight years. What is the total interest paid over the term of the lease? Multiple Choice $37,300 $4.621 $2,611 What is the total interest paid over the term of the lease? Multiple Choice $37,300 $4,621 $2.611 $4,950

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