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 Thereafter Total 585,336 $832,342 What is the approximate present value of the minimum lease payments? Assume a discount rate of 6.0%.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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
Thereafter
Total
585,336
$832,342
What is the approximate present value of the minimum lease payments? Assume a discount rate of 6.0%.
Transcribed Image Text: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 Thereafter Total 585,336 $832,342 What is the approximate present value of the minimum lease payments? Assume a discount rate of 6.0%.
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