Question: please, answer the question below. 13 Refer to the following lease amortization schedule. The five payments are made annually starting with the beginning of the
please, answer the question below.


13 Refer to the following lease amortization schedule. The five payments are made annually starting with the beginning of the lease. A $3,000 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 4 points Skipped 1 2 3 4 8, 900 8, 900 8,900 8,900 8, 900 3,000 Effective Decrease in Outstanding Interest Balance Balance 42,810 ?? ?? 33, 910 1,695 7, 205 26, 705 1,335 7,565 19, 140 957 7,943 11,197 ?? ?? ?? 143 2,857 0 5 6 What is the total interest paid over the term of the lease? 13 Multiple Choice 4 points O Skipped $8,562 O $2,375 $4,690 O O $47,500
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