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What is the approximate present value

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Question - Cabela's disclosed the following minimum rental commitments under non-cancelabel operating leases in its 2013 annual report (in millions)

Year Operating Lease

2014 $16,035

2015 $20,956

2016 $20,489

2017 $20,098

2018 $26,516

Thereafter $269,619

Total $373,713

What is the approximate present value of the minimum lease payments? Assume a discount rate of 6.1% and assume that payments after 2018 are made evenly over 10 years.

Reference no: EM132043292

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