Coach Inc. reports the following in its 2015 Form 10-K.

The Company leases retail, distribution and office facilities, which expire at various dates through 2036. Future minimum rental payments under non-cancelable operating leases, as of July 2, 2016, are as follows:

Fiscal Year	Amount (millions)
2017	$254.2
2018	232.4
2019	209.4
2020	181.4
2021	150.4
Subsequent to 2021	597.4
Total minimum future rental payments	$1,625.2

Assume that the appropriate discount rate for the operating leases is 5%

Answer rating: 100% (QA)

Fiscal Year Amount millions PV 5 Present Value 2017 28920 095238 27... View the full answer