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A corn producer has purchased a crop revenue insurance policy. The corn producer has insured 70% of their projected actual production history of 200 bu/acre.

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A corn producer has purchased a crop revenue insurance policy. The corn producer has insured 70% of their projected actual production history of 200 bu/acre. The premium for this policy is $10.00 per acre. At the time of insurance policy purchase the base indemnity price is $5.00 per bu. If the farm ends up having a yield of 100 bu per acre and the harvest price is $6.00 per bu, how much money will the farm receive per acre? $0 $240 $170 $200 $230

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