1. (20 marks) Suppose the value of timber (already.r planted on some given land) is the following function of time: V(t) =10000+6000t~10t2 in dollars. Assuming the continuously discount rate (lending and borrowing rate) is 5% and assuming zero upkeep cost during the period of timber growth, (a) What is the optimal time to out the timber for sale? (13) What is the maximum present value of timher'ill (d'WdFUUU-Et)