Refer to the following lease amortization schedule. The five payments are made annually starting with the beginning of the lease. A $1,600 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 Cash Payment Payment Effective Interest Decrease in Balance ?? 7,980 7,900 7.900 7,900 7,900 1,600 ?? 1,714 1,343 950 Outstanding Balance 36, 470 28,570 22,384 15,827 8,877 6,186 6,557 6,950 ?? ?? 91 1,509 What is the total interest paid over the term of the lease