Future minimum lease payments due are as follows:
| 2017 | Minimum
lease payments |
Interest | Present
value |
|||||||||
| Less than one year | $ | 2,180,616 | $ | 1,049,434 | $ | 1,131,182 | ||||||
| Later than one year and not later than five years | 7,236,202 | 3,231,225 | 3,967,793 | |||||||||
| Later than five years | 16,296,170 | 3,115,542 | 13,180,628 | |||||||||
| Total | $ | 25,712,988 | $ | 7,396,201 | $ | 18,279,603 | ||||||
| 2016 | Minimum lease payments |
Interest | Present value |
|||||||||
| Less than one year | $ | 1,920,618 | $ | 998,984 | $ | 921,634 | ||||||
| Later than one year and not later than five years | 6,739,259 | 3,156,663 | 3,582,596 | |||||||||
| Later than five years | 16,073,358 | 3,600,982 | 12,472,376 | |||||||||
| Total | $ | 24,733,235 | $ | 7,756,629 | $ | 16,976,606 | ||||||
| 2015 | Minimum
lease payments |
Interest | Present
value |
|||||||||
| Less than one year | $ | 3,514,879 | $ | 1,658,525 | $ | 1,856,354 | ||||||
| Later than one year and not later than five years | 5,952,787 | 3,426,567 | 2,526,220 | |||||||||
| Later than five years | 18,934,300 | 4,942,163 | 13,992,137 | |||||||||
| Total | $ | 28,401,966 | $ | 10,027,255 | $ | 18,374,711 | ||||||