Refer to the following lease amortization schedule. The five payments are made annually starting with the beginning of the lease. A $2,200 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 Cash Payment Payment 1 2 3 6,700 6,700 6,700 6,700 6,700 2,200 Effective Decrease in Outstanding Interest Balance Balance 31,560 ?? ?? 24,860 1,492 5, 208 19,652 1,179 5,521 14,131 848 5,852 8, 279 ?? 22 ?? 125 2,075 0 5 6 What is the outstanding balance after payment 5? Multiple Choice $2,075 O $2,200 $2,325 $2,325 O d $4,275, Refer to the following lease amortization schedule. The five payments are made annually starting with the beginning of the lease. A $2,500 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 Cash Payment Payment 1 2 3 4 Effective Decrease in Outstanding Interest Balance Balance 43,900 ?? ?? 34,300 2,401 7,199 27,101 7, 703 19,398 1,358 8, 242 11, 156 ?? ?? ?? 164 2,336 0 9,600 9,600 9,600 9,600 9,600 2,500 1,897 5 6 What is the outstanding balance after payment 5? Multiple Choice $2,336 O $2,500 $2,500. O $2,664. $4,836