(a) What is the optimal (profit maximizing) year to cut your trees? What is the present value of the profits earned in that year? (b) Find the rotation age that maximizes average annual yield (tMSY ) (c) Suppose a developer offered you $1,500 for your land today (with the trees on it). Should you sell your land or keep it, and harvest timber at the optimal time, and sell your land for the $850 it is worth after the rotation? (d) Suppose a local mountain biking association offered to pay you and annual amount to keep the trees standing on your land (because they like mountain biking on trails with the trees). What is the minimum amount they would offer you to choose to delay your harvest until year 5, rather than the year you found in part (a)? 2. Suppose a rockfish fishery is characterized by the following equations for sustainable yield (SY ) and total cost (TC): CV CHE _ '31:\