A Using a Financial Calculator to Determine Present Value of Operating Leases Coach Inc. reports the following in its 2015 Form 10-K. The Company leases retail, distribution and office facilities, which expire at various dates through 2036. Future minimum rental payments under non-cancelable operating leases, as of July 2, 2016, are as follows: Fiscal Year Amount (millions) 2017 $296.2 2018 274.4 2019 251.4 2020 223.4 2021 192.4 Subsequent to 2021 639.4 Total minimum future rental payments $1,877.2 Assume that the appropriate discount rate for the operating leases is 5%. Use a financial calculator to determine the present value of the future minimum operating lease payments. Round remaining life to the nearest whole number Round answer to two decimal places