Question: 3. Kane Industries disclosed the following minimum rental commitments under non-cancelable operating leases in its 2014 annual report: What is the present value of these

3. Kane Industries disclosed the following minimum rental commitments under non-cancelable operating leases in its 2014 annual report: What is the present value of these operating lease payments, assuming a 6% discount rate? A) $193 million B) $179 million C) $ 70 million D) $225 million E) None of the above Minimum operating Amount lease payments (in millions) 2015 $ 74 2016 48 2017 35 2018 27 2019 22 Thereafter 19 Total $225

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