For Questions 11-15, use the information given below to determine the financially or economically-optimum age to harvest this stand using the following relationship:

(V₁ V₀) = (V₀ C)r + Sr

Where:

V₀ = value of timber at time 0

V₁ = value of timber at time 1

C = harvest cost

S = land sale price

r = discount rate

Stand Age	Stand Volume per acre(ft^3)
41	550
42	610
43	680
44	750
45	825
46	905
47	980
48	1040
49	1095
50	1145
51	1185
52	1225
53	1260
54	1295
55	1325
56	1355
57	1380
58	1405
59	1425
60	1440

Discount Rate = 2%

Stumpage Price = $2 per ft³

Residual Land Value After Harvest = $1,000 per acre

Harvest Cost = $300 per acre

Wildlife Benefit if Stand Isnt Harvested = $30 per acre per year