The Elis Corporation has heovy lease commitments. A new vice-president wants the lease obligations footnoted in the bolance sheet as follows: Use Apoendix D. The footnotes would state that the compony had $10 milion in onnual capital lease obligotions over the next 20 years. Lease poyments are poyoble ot the end of the year: a. Discount these onnual lease obligotions bock to the present at o 6 percent discount rate. (Enter the answer in mittions. Round "PV Factor" to 3 decimal places. Round the final answer to nearest whole million) Annual leose obligotions \$ million b. Construct o revised bolance sheet that includes leose obligations, os in Toble 16-6. (Enter the answers in millions. Round 7PV Factor" to 3 decimal places. Round the final answers to nearest whole milition.) c. Compute total debt to total ossets on the original and revised bolance sheets. (Round "PV Factor" to 3 decimal places. Flound the final answers to 1 decimal place.) d. Compute total debt to equity on the original ond revised bolence sheets. (Round "PV Factor" to 3 decimal places. Round the final answers to 1 decimal place.) e. In on efficient copitol morket environment, should the consequences of the CICA recommendotion, os viewed in the onswers to pors cand d, chonge stock prices ond credit retings? Yes No