d-ons Help All changes saved in Drive Courier New - 10 - B IUA. .. DE E 25 13. Refer to the following lease amortization schedule. The 10 payments are made annually starting with the beginning of the lease. Title does not transfer to the lessee and there is no purchase option or guaranteed residual value. The asset has an expected economic life of 12 years. The lease is noncancelable. Cash Payment Payment Effective Interest Decrease in balance Outstanding Balance 69,952 59,952 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 5,396 4,981 4,530 4,037 3,501 2,916 2,278 10,000 4,604 5,019 5, 470 5,963 6,499 7,084 7,722 55,348 50, 329 44,859 38,896 32,397 25,313 17,591 What amount would the lessee record as annual amortization on the right-of-use asset using the straight-line method? (Round your answer to the nearest whole dollar.) $7.059. $5,995. $10,000 $6.995. 12. Refer to the following lease amortization schedule. The five payments are made annually starting with the beginning of the lease. A $2,900 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 ?? 9,700 9,700 9,700 9,700 9,700 2,900 Outstanding Balance 43,010 33,310 26,608 19,303 11,340 ?? 2,998 2,395 1,737 ?? 239 6,702 7,305 7,963 ?? 2,661 What amount would the lessee record as annual amortization on the asset using the straight-line method, assuming no residual value? (Round your answer to the nearest whole dollar.) $6,425. $5,376 $6,589 $4,164