Question:Costco Wholesale Corporation discloses the following in footnotes to its 10-K report relating to its leasing activities.

At the end of 2016, future minimum payments...under noncancelable leases with terms of at least one year were as follows ($ millions):

2017$200

2018195

2019184

2020171

2021166

Thereafter2,204

Total$3,120

Operating leases are not reflected on-balance-sheet. In our analysis of a company, we often capitalize these operating leases, that is, add the present value of the future operating lease payments to both the reported assets and liabilities.

(a) Compute the present value of Costco's operating lease payments assuming a 6% discount rate and round the remaining lease term to the nearest whole year. (Use a financial calculator or Excel to compute. Do not round until your final answers. Round each answer to the nearest whole number.)

($ millions)Present Value

Year 1$Answer

Year 2$Answer

Year 3$Answer

Year 4$Answer

Year 5$Answer

After 5 $Answer

Total*$Answer

* (Use subsequent rounded answers for calculation.)