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Business, 31.12.2019 00:31 yaz1206

The following table summarizes nowman's non-cancelable operating lease payments with remaining terms in excess of one year for the years succeeding december 31, 2018:

year ending december 31

payment

2019

$220,000

2020

$180,000

2021

$240,000

2022

$210,000

2023

$190,000

thereafter (2024-2027)

$832,000

what is the amount of operating lease obligation that needs to be reported on the balance sheet on december 31, 2018? assuming that the discount rate is 8%. (hint: for years after 2023, the annual lease payment should be treated as the average of prior years between 2019 to 2023.)

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The following table summarizes nowman's non-cancelable operating lease payments with remaining terms...
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