The GAP Inc. discloses the following schedule to its fiscal 2018 (ended February 2, 2019) 10-K report relating to its leasing to its leasing activities. Note: Complete the entire question in Excel and format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal places. The aggregate minimum noncancelable annual lease payments under leases in effect on February 2, 2019, are as follows: Fiscal Year ($ millions) 2019 $1,098 2020 1,043 2021 847 2022 694 2023 512 1,444 Thereafter Total minimum lease commitments $5,638 Compute the present value of GAP's operating leases using the following assumptions Discount rate Assmption Round remaining lease term to the nearest whole year 6% Year Present Value 1 $ 0 2 0 3 0 4 0 5 0 >5 0 $ 0
The GAP Inc. discloses the following schedule to its fiscal 2018 (ended February 2, 2019) 10-K report relating to its leasing to its leasing activities. Note: Complete the entire question in Excel and format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal places. The aggregate minimum noncancelable annual lease payments under leases in effect on February 2, 2019, are as follows: Fiscal Year ($ millions) 2019 $1,098 2020 1,043 2021 847 2022 694 2023 512 1,444 Thereafter Total minimum lease commitments $5,638 Compute the present value of GAP's operating leases using the following assumptions Discount rate Assmption Round remaining lease term to the nearest whole year 6% Year Present Value 1 $ 0 2 0 3 0 4 0 5 0 >5 0 $ 0
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:The GAP Inc. discloses the following schedule to its fiscal 2018 (ended February 2, 2019) 10-K report relating to its leasing to its leasing activities.
Note: Complete the entire question in Excel and format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal places.
The aggregate minimum noncancelable annual lease payments under leases in effect on February 2, 2019, are as follows:
Fiscal Year ($ millions)
2019 $1,098
2020 1,043
2021
847
2022
694
2023
512
Thereafter
Total minimum lease commitments $5,638
1,444
Compute the present value of GAP's operating leases using the following assumptions
Assmption
Discount rate
Round remaining lease term to the nearest whole year
Year
Present Value
1 $
0
2
0
3
0
4
0
5
0
>5
0
$
0
6%
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