12. (6 points) You are considering buying a tract of recently harvested timberland that's suitable for pine plantation management. You will use this tract to produce pulpwood timber for your paperboard and packaging business. If you expect the following first rotation values, what is the maximum price you would bid for the land? Assume you are using a guiding rate of 6.5%. Revenues: Final harvest income at age 20 = $1,800/acre Costs: Site preparation and planting in year 0 - $150/acre Herbaceous weed control in year 3 = $50/acre - Annual property taxes = $6/acre/year