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 certaln to be exercised at the end of the five$-$year lease. The asset has an expected economic life of eight years.

$\backslash$table$[[\backslash$table$[[$Lease$],[$Payment$]],\backslash$table$[[$Cash$],[$Payment$]],\backslash$table$[[$Effective$],[$Interest$]],\backslash$table$[[$Decrease in Outstanding$],[$Balance$]],\backslash$table$[[$Balance$],[$Bay$]],,,$$$39,910$