Based on the 2018 Farm Bill, the effective reference price (ERP) for seedcotton is $0.3670 per pound and for peanuts, it is $0.2675 per pound. A single farmer in Dooly County, GA has 4,500 acres of cropland and is eligible to enroll in the Price Loss Coverage (PLC) Program. There is a total of 3,000 base acres on the land: 1,000 acres of peanut base with a base yield of 3,600 pounds per acre and 2,000 acres of seedcotton base with a base yield of 2,100 pounds per acre. Prior to planting the farmer elected to enroll all base acres into the PLC program. The market year average (MYA) price of seedcotton averaged $0.3170 per pound and the MYA price for peanuts was $0.2075 per pound. Keep in mind payment limitations for a single farmer are limited to $125,000 and peanuts have a separate payment limit of $125,000. (total 5 points) a. Compute the PLC payment per base acre of seedcotton and peanuts. Per acre PLC Payment for Seedcotton: PLC Payment Rate PLC Payment per Base Acre: Per acre PLC Payment for Peanuts: PLC Payment Rate PLC Payment per Base: b. Calculate the total PLC payment to this farmer. Total PLC Payment for Seedcotton: Total PLC Payment for Peanuts: Total PLC Payment to this Farmer=_ c. Suppose the farmer elected ARC for seedcotton base for the 20/21 marketing year. During enrollment, the 5-year Olympic Average (OA) price was $0.3750 per pound and the OA yield for Dooly County was 2,000 pounds per acre. After the season, the actual average county yield was 1,900 pounds per acre. The actual MYA price for seedcotton was $0.3850 per pound. Compute the ARC payment per base acre of seedcotton: ARC Payment per Base Acre = d. Compute the Total ARC Payment: