Analyzing and Capitalizing Operating Lease Payments Disclosed in Footnotes Costco Wholesale Corporation discloses the following in footnotes to its 10-K report relating to its leasing activities At the end of 2013, future minimum payments..under non-cancelable leases with terms of at least one year were as follows ($ millions): 2014 189 2015 2017 2018 $2,597 Total minimum payments Operating leases are not reflected on- balance-sheet. In our analysis of a company, we often capitalize these operating leases, that is, add the present value of the future operating lease payments to both the reported assets and (a) Compute the present value of Costco's operating lease payments assuming a 6% discount rate and round the remaining lease term to the nearest whole year, (Use a financial calculator or Excel to compute. Do not round until your final answers. Round each answer to the nearest whole number.) (S millions) Present Value Year 1 1,279 X Year 2 1,129 Year 3 996 Year 4 Year 5 After 5 774 X 2,597