1. Cabelas Corp disclosed the following minimum rental commitments under non-cancelable operating leases in its 2015 annual report (in millions). Operating Leases

   2016 $24,424 2017 25,245

   2018 25,065

   2019 24,682 2020 24,087 Thereafter: $292,668 Total $416,171

   What is the approximate present value of the minimum lease payments? Assume a discount rate of 6.0% and round the remaining lease term to the nearest whole year.

   PICK THE CLOSEST ANSWER (THIS WOULD BE CONSIDERED DEBT AT THE MAJOR RATING AGENCIES)

   		$233,357 million
   		$ 15,113 million
   		$255,007 million
   		$373,713 million
   		None of the answer