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Can you please help with After 5? Question Partially correct Mark 5.00 out of 7.00 P Flag question Analyzing and Interpreting Lease Footnote Disclosures The
Can you please help with After 5?
Question Partially correct Mark 5.00 out of 7.00 P Flag question Analyzing and Interpreting Lease Footnote Disclosures The GAP Inc. discloses the following schedule to its fiscal 2015 (ended January 30, 2016) 10-K report relating to its leasing to its leasing activities. The aggregate minimum noncancelable annual lease payments under leases in effect on January 30, 2016, are as follows: Fiscal Year ($ millions) 2016 2017 $1,285 1,248 1,096 2018 2019 971 2020 832 Thereafter 2,568 Total minimum lease commitments $8,000 $ Compute the present value of GAP's operating leases using a 6% discount rate and round the remaining lease term to the nearest whole year. Round each answer to the nearest whole number. $ million Present Value Year 1 1,212 Year 2 1,111 Year 3 920 Year 4 769 Year 5 622 After 5 1,919 X $ OXStep by Step Solution
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