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The following table is from PetSmart for the year ended February 2, 2014. (These financial...

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Accounting

The following table is from PetSmart for the year ended February 2, 2014. (These financial statements are located in Appendix B in the back of the text. You can also access them on the company's website, or on the SEC's Edgar website). It provides estimates of future lease obligations under operating lease agreements.

Year Amount
2014 325,830
2015 334,756
2016 301,162
2017 264,995
2018 210,121
2019 163,878
2020 163,878
2021 163,878

Assuming that the discount rate is 6% and that payments are made at the end of the year, if PetSmart had structured the operating leases as capital leases, estimate the additional amount of lease liability that would be reported on the balance sheet.

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