Question: I need help please Analyzing and Interpreting Lease Footnote Disclosures The GAP Inc. discloses the following schedule to its fiscal 2015 (ended January 30, 2016)
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Analyzing and Interpreting Lease Footnote Disclosures The GAP Inc. discloses the following schedule to its fiscal 2015 (ended January 30, 2016) 10-K report relating to its leasing to its leasing activities. The aggregate minimum noncancelable annual lease payments under leases in effect on January 30, 2016, are as follows: Fiscal Year ($ millions) $1,435 2016 2017 1,398 2018 1,246 2019 1,121 2020 982 Thereafter 3,018 Total minimum lease commitments $9,200 Compute the present value of GAP's operating leases using a 6% discount rate and round the remaining lease term to the nearest whole year. Round each answer to the nearest whole number. $ million Present Value Year 1 $ 0 Year 2 0 Year 3 0 Year 4 0 Year 5 0 After 5 0 $ 0
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