The Ellis Corporation has heavy lease commitments. A new vice$-$president wants the lease obligations footnoted in the balance sheet as follows: Use AppendixELLTSELLIS CORPORATION$($ millions$)$Current assetsCapitalassets$$95$Current liabilities$$1595$Long$-$term liabilities$75$Total liabilities$$90$Total assetsSharesholders'equity$100$$$190$Total liabilities and equity$$190$ footnotes would state that the company had $$19$ million in annual capital lease obligations over the next $10$ years. Lease payments are payable at the end of the year.a$.$ Discount these annual lease obligations back to the present at a $8$ percent discount rate. $($Enter the answer in millions. Round $"$PV Factor" to $3$ decimal places. Round the final answer to nearest whole million.$)$Annual lease obligations$million$3.$ Construct a revised balance sheet that includes lease obligations, as in Table $16-6.($Enter the answers in millions. Round $"$PV Factor" to $3$ decimal places. Round the final answers to nearest whole million.$)$Current assetsCapital assetsLeased property under capital leaseTotal assetsBalance Sheet $($$ millions$)$Current liabilitiesLong$-$term liabilitiesObligations under capital leaseTotal liabilitiesShareholders' equityTotal liabilities and shareholders'equityCompute total debt to total assets on the original and revised balance sheets. $($Round $"$PV Factor" to $3$ decimal places. Round the final answers to $1$ decimal place.$)$OriginalRevised$\%$d$.$ Compute total debt to equity on the original and revised balance sheets.$($Round $"$PV Factor" to $3$ decimal places. Round the final answers to $1$ decimal place.$)$I OriginalRevisede. In an efficient capital market environment, should the consequences of the CICA recommendation, as viewed in the answers to parts c and d$,$ change stock prices and credit ratings? YesO Nof. This part of the question is not part of your Connect assignment.