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Analyzing, Interpreting and Capitalizing Operating Leases Goldman Sachs' 10-K report contains the following lease footnote. This is the only information it discloses relating to its

Analyzing, Interpreting and Capitalizing Operating Leases Goldman Sachs' 10-K report contains the following lease footnote. This is the only information it discloses relating to its leasing activity. The firm has contractual obligations under long-term noncancelable lease agreements for office space expiring on various dates through 2069. Rent charged to operating expense was $249 million for 2015. The table below presents future minimum rental payments, net of minimum sublease rentals.

$ in millions As of December 2015
2016 $317
2017 313
2018 301
2019 258
2020 226
2021-thereafter 1,160
Total $2,575

(c) Using a 6% discount rate and rounding the remaining lease life to the nearest whole year, estimate the assets and liabilities that Goldman Sachs fails to report as a result of its off-balance-sheet lease financing. (Use a financial calculator or Excel to compute. Do not round until your final answers. Round each answer to the nearest whole number.)

Present Value
Year 1 $Answer
Year 2 $Answer
Year 3 $Answer
Year 4 $Answer
Year 5 $Answer
After 5 $Answer
Total* $Answer

Incorrect Mark 0.00 out of 1.00

*Use subsequent rounded answers to compute total.

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