Assume farmer Alex has a 160 bushel per acre APH yield, and he enrolled 75-percent yield coverage level, 100 percent of the price yield protection plan. The projected price was $4.00, and the harvest price is $4.50. His actual yield is 100 bushels. What is his insured revenue, and what is his actual revenue? 

Insured revenue is $640 and actual revenue is 450. 

Insured revenue is $540 and actual revenue is 450. 

Insured revenue is $640 and actual revenue is 400. 

Insured revenue is $480 and actual revenue is 450