A farm couple wants to rent 400 acres of land. They estimate that their average costs of production per acre for a corn/soybean operation would be as follows: Seed, fertilizer, pesticides - $200 Machinery (ownership) - $60 Machinery (operating) - $40 Labor (operating) - $30 Miscellaneous - $10 Total - $340 They expect the following long-run yields and prices: Corn: 175 bu/acre @ $4.00/bu Soybeans: 50 bu/acre @ $10.00/bu What is their expected gross income per acre if they plant half corn and half soybeans? a. $140,000 b. $240,000 c. $600 d. $700