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%. 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
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%. 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
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter20: Accounting For Leases
Section: Chapter Questions
Problem 9RE: Use the information in RE20-3. Prepare the journal entries that Richie Company (the lessor) would...
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