Refer to the following lease amortization schedule. The five payments are made annually starting with the beginning of the lease. A $$2,600$ 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.

Lease Payment Cash Payment Effective Interest Decrease in Balance Outstanding Balance

$ $41,236$

$1$ $ $8,800??$question mark $??$question mark $32,436$

$28,800$ $ $1,946$ $ $6,85425,582$

$38,8001,5357,26518,317$

$48,8001,0997,70110,616$

$58,800??$question mark $??$question mark $??$question mark

$6$ $ $2,600$ $ $147$ $ $2,453$ $ $0$

What is the outstanding balance after payment $5?$

Multiple Choice

$$2,453$

$$2,600$

$$2,747$

$$5,053$