Falls Financial Corp. $2020$ annual report discloses the following lease payments:

Capital Operating

Fiscal year leases leases

$2021$ $$5,280$ $$931,200$

$20224,320266,880$

$20233,360195,360$

$2024037,920$

$2025014,880$

Net minimum lease payments $$12,960$ $$1,446,240$

Less amount representing interest $5,800$

Present value of lease obligations $$7,160$

Compute the approximate present value of Falls Financial Corporation$$s operating leases using a discount rate of $11\%.$

Select one:

a$.$ $$1,302,394$ million

b$.$ $$1,330,799$ million

c$.$ $$1,446,240$ million

d$.$ $$1,232,180$ million

e$.$ $$1,435,600$ million