This assignment is based on Build-A-Bear Workshop Inc. You will need to obtain a copy of the FY2014 Build-A-Bear Workshop Inc. annual report (FY 2015 will not be available until final week. Please use the 2014 report for the year ended January 3, 2015). The project provides an opportunity to develop your critical thinking ability by applying, integrating and extending the knowledge you have gained in class. Assignment Analyze the implications for Build-A-Bear Workshop of a change in lease accounting consistent with the new standard (Topic 842) released by FASB February 2016. You should write up your analysis in the form of a business memo (not just answers to the case questions). Your memo should: Incorporate the following and may include additional relevant information. a. Calculate the present value of the minimum lease payments at January 3, 2015 (the final day of fiscal 2014). Assume the implicit rate of interest is 7%. Use the future minimum lease payments disclosed in Note 10, Commitments and Contingencies. Assume that all lease payments are made on the final day of each fiscal year. Also assume that payments made subsequent to 2019 are made evenly over three years.