Capitalizing Operating Leases-Part 1: Use the information presented in the following financial disclosures to measure the present value of the outstanding operating lease obligations as of the end of Years 0 and 1. assuming annual payments and a 7% discount rate. Also measure the present value of the additions to the lease obligations (new leases), the implicit interest on the capitalized lease obligations, and the lease asset amortiza- tion (assuming a 10-year life) for Year 1. assuming annual payments and a 7% discount rate. Also measure the present value of the addi obligations (new leases), the implicit interest on the capitalized lease obligations, and the leas tion (assuming a 10-year life) for Year 1. Year O Financial Disclosure Year 1 Financial Disclosure Finance Leases Operating Leases Finance Leases Year Year Operating Leases Year 1 Year 2 Year 3 Year 4 Year 5 After Year 5. Total Total interest $ 1,200 1.160 1.110 1,030 1,000 8,000 $13,500 5,979 $ 7.521 $ 3,600 3,480 3,330 3,090 3,000 27,000 $43,500 Year 2 Year 3 Year 4 Year 5 Year 6 After Year 6. Total Total interest Present value $ 1,400 1,400 1,300 1.200 1.200 9.600 $16,100 7,154 $ 8,946 $ 4,000 3,900 3.700 3,400 3,300 29.700 $48,000 Present value Capitalizing Operating Leases-Part 1: Use the information presented in the following financial disclosures to measure the present value of the outstanding operating lease obligations as of the end of Years 0 and 1. assuming annual payments and a 7% discount rate. Also measure the present value of the additions to the lease obligations (new leases), the implicit interest on the capitalized lease obligations, and the lease asset amortiza- tion (assuming a 10-year life) for Year 1. assuming annual payments and a 7% discount rate. Also measure the present value of the addi obligations (new leases), the implicit interest on the capitalized lease obligations, and the leas tion (assuming a 10-year life) for Year 1. Year O Financial Disclosure Year 1 Financial Disclosure Finance Leases Operating Leases Finance Leases Year Year Operating Leases Year 1 Year 2 Year 3 Year 4 Year 5 After Year 5. Total Total interest $ 1,200 1.160 1.110 1,030 1,000 8,000 $13,500 5,979 $ 7.521 $ 3,600 3,480 3,330 3,090 3,000 27,000 $43,500 Year 2 Year 3 Year 4 Year 5 Year 6 After Year 6. Total Total interest Present value $ 1,400 1,400 1,300 1.200 1.200 9.600 $16,100 7,154 $ 8,946 $ 4,000 3,900 3.700 3,400 3,300 29.700 $48,000 Present value