Compute the present value of Costco's operating lease payments, assuming a 5% discount rate, after 2015 and round the remaining lease term to the nearest whole year.
Future minimum payments
2015 = 111
Thereafter = 1,451
There is no mention about the number of years.
I have done it for 10 years' lease, 20 years' lease and 30 years' lease
The present values are as follows:
The formula supplied to excel is
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