The GAP Inc. discloses the following schedule to its fiscal 2015 (ended January 30, 2016) 10-K...

 

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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 (S millions) 2016 $1,385 2017 1.348 2018 1,196 2019 1,071 2020 932 Thereafter 2.868 Total minimum lease commitments 58,800 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. S million Present Value Year 1 1,307 Year 2 1,200 Year 3 1,004 Year 4 848 v Year 5 696 v After 5 2,143 x 7.198 x 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 (S millions) 2016 $1,385 2017 1.348 2018 1,196 2019 1,071 2020 932 Thereafter 2.868 Total minimum lease commitments 58,800 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. S million Present Value Year 1 1,307 Year 2 1,200 Year 3 1,004 Year 4 848 v Year 5 696 v After 5 2,143 x 7.198 x

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A D F G Answer using 6 discount rates Year Lease Payments Discount rates at 6 P... View the full answer