3. You are the manager of a forest products company with land recently planted ( t=0) with a fast-growing species of pine. The merchantable volume of timber at time t is given by Q(t) =t+t2t2, where historical data indicates =10,=1, and =0.01. a) What is the maximum volume and when does it occur? b) What rotation length maximized mean annual increment, [Q(t)/T], and what is the associated volume? c) If the net price per unit volume is p=1 and this discount rate =0.05, what are the optimal single rotation, volume at harvest, and present value at t=0 ? d) If the cost of replanting is c=150, what are the optimal Faustminn rotation, volume at harvest, and present value at t=0 ? 3. You are the manager of a forest products company with land recently planted ( t=0) with a fast-growing species of pine. The merchantable volume of timber at time t is given by Q(t) =t+t2t2, where historical data indicates =10,=1, and =0.01. a) What is the maximum volume and when does it occur? b) What rotation length maximized mean annual increment, [Q(t)/T], and what is the associated volume? c) If the net price per unit volume is p=1 and this discount rate =0.05, what are the optimal single rotation, volume at harvest, and present value at t=0 ? d) If the cost of replanting is c=150, what are the optimal Faustminn rotation, volume at harvest, and present value at t=0