Question
I need the last field equation. Analyzing and Interpreting Lease Footnote Disclosures The GAP Inc. discloses the following schedule to its fiscal 2018 (ended February
I need the last field equation. Analyzing and Interpreting Lease Footnote Disclosures
The GAP Inc. discloses the following schedule to its fiscal 2018 (ended February 2, 2019) 10-K report relating to its leasing to its leasing activities.
Note: Complete the entire question in Excel and format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal places.
The aggregate minimum noncancelable annual lease payments under leases in effect on February 2, 2019, are as follows:
Fiscal Year ($ millions) | |
---|---|
2019 | $1,387 |
2020 | 1,318 |
2021 | 1,070 |
2022 | 876 |
2023 | 647 |
Thereafter | 1,824 |
Total minimum lease commitments | $7,122 |
Compute the present value of GAP's operating leases using the following assumptions
Assumption | |
---|---|
Discount rate | 6% |
Round remaining lease term to the nearest whole year |
Year | Present Value | |
---|---|---|
1 | 1307.55 | |
2 | 1173.68 | |
3 | 898.57 | |
4 | 694.44 | |
5 | 484.03 | |
>5 | ? | |
? |
Analyzing and Interpreting Lease Footnote Disclosures The GAP Inc. discloses the following schedule to its fiscal 2018 (ended February 2, 2019) 10-K report relating to its leasing to its leasing activities. Note: Complete the entire question in Excel and format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal places. The aggregate minimum noncancelable annual lease payments under leases in effect on February 2, 2019, are as follows: Compute the present value of GAP's operating leases using the following assumptions
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started