Caleb's Corp disclosed the following minimum rental commitments under non-cancelable operating leases in its 2020 annual report (in millions). Operating Leases 2021 $24,424 2022 25,245 2023 25,065 2024 24,682 2025 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%. Note: Round the remaining lease term to the nearest whole year, using the final lease payment provided as an estimate of annual future payments. Select one: • a. $373,713 million. b. $306,046 million c. $416,171 million d. $310,424 million x e. $255,007 million

Caleb's Corp disclosed the following minimum rental commitments under non-cancelable operating leases in its 2020 annual report (in millions). Operating Leases 2021 $24,424 2022 25,245 2023 25,065 2024 24,682 2025 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%. Note: Round the remaining lease term to the nearest whole year, using the final lease payment provided as an estimate of annual future payments. Select one: • a. $373,713 million. b. $306,046 million c. $416,171 million d. $310,424 million x e. $255,007 million

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Caleb's Corp disclosed the following minimum rental commitments under non-cancelable operating leases in its 2020 annual report (in millions). Operating Leases 2021 $48,848 2022 50,490 2023 50,130 2024 49,364 2025 48,174 585,336 $832,342 Thereafter Total What is the approximate present value of the minimum lease payments? Assume a discount rate of 6.0%. Note: Round the remaining lease term to the nearest whole year, using the final lease payment provided as an estimate of annual future payments. Select one: a. $612,091 million О b. $747,426 million О c. $510,013 million О d. $620,847 million О e. $832,342 million
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