TB MC Qu$.15-38($Algo$)$ Refer to the following lease amortization...

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.

PaymentCash PaymentEffective InterestDecrease in balanceOutstanding Balance$$$ $71,9081$$ $11,000$$ $0$$ $11,00060,908211,0006,7004,30056,608311,0006,2274,77351,835411,0005,7025,29846,537511,0005,1195,88140,656611,0004,4726,52834,128711,0003,7547,24626,882811,000$$ $2,957$$ $8,043$$ $18,839911,000?$question mark?question mark?question mark$10$$ $11,000?$question mark?question mark?question mark

What amount would the lessee record as annual amortization on the right$-$of$-$use asset using the straight$-$line method?

Note: Round your answer to the nearest whole dollar.

Multiple Choice

$$7,255$

$$11,000$

$$7,191$

$$6,091$