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step by step on how to calculate PV please Assume Fortune Brands, Inc., reports the following footnote relating to its leased facilities in its 2016
step by step on how to calculate PV please
Assume Fortune Brands, Inc., reports the following footnote relating to its leased facilities in its 2016 10-K report. Future minimum rental payments under noncancelable operating leases as of December 31, 2016 are as follows: (In millions) 2017 $ 45.6 2018. 2019. 33.5 26.9 2020 20.2 15.7 2021 Remainder Total minimum rental payments 37.3 $179.2 Compute the present value of these operating leases using a discount rate of 7% and round the remaining lease life to the nearest whole year. Select one: A. $179.2 million B. $140.7 million C. $127.3 million D. $154.9 millionStep by Step Solution
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