Solution-Compute the present value of gap operating leases

Compute the present value of gap operating leases

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Reference no: EM133092355

Question - 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 ($ millions)
2016	$1,435
2017	1,398
2018	1,246
2019	1,121
2020	982
Thereafter	3,018
Total minimum lease commitments	$9,200

Required - 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.

Reference no: EM133092355

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Compute the present value of gap operating leases

Reference no: EM133092355

Reference no: EM133092355

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