(Solved): Refer to the following lease amortization schedule. The five payments are made annually starting w ...

Refer to the following lease amortization schedule. The five payments are made annually starting with the beginning of the lease. A \( \$ 1.700 \) 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. What would be the amount of interest expense recorded with payment 5 ? Note: Round your answer to the nearest whole dollar amount. Multiple Choice \( \$ 1,122 \) \( \$ 8.022 \) Refer to the following lease amortization schedule. The five payments are made annualy starting with the beginning of the lease. A \( 52.400 \) purchase pption is reasonably certain to be exercised at the end of the five-year lease. The asset has an expected economic life of eight years What is the total interest pald over the term of the lease? Muliple Choles 53718 \$6.120 What would be the amount of interest expense recorded with payment 5 ? Note: Round your answer to the nearest whole dollar amount. Multiple Choice \( \$ 1,122 \) \( \$ 8,022 \) \( \$ 1,700 \) \( \$ 578 \) What is the total interest paid over the term of the lease? Multiple Choice \[ \$ 3,712 \] \[ \$ 6,820 \] \[ \$ 46,400 \] \[ \$ 4,948 \]