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Now the Secretary wants you to figure out if this "typical" farmer might actually have fared better if he/she had participated in the ARC program rather than the commodity programs (PLC and LDP/MLG) given the drought conditions in the country. First, calculate the payments that the farmer would have received and her/his total revenue under the ARC program at each of the same 5 market price levels. Continue to assume that drought has reduced the actual corn yield to 75 bushels/acre and the same base acreage and program yield as in scenario #2. Put your new calculations in the table below. Here is some additional information you will need for your ARC calculations: Olympic average price $5.00 Olympic average yield 225 bu/acre Benchmark Guaranteed Actual ARC Revenue Revenue Revenue Payment Total Market Total Farm (per acre) (per acre) (per acre) per acre Payment Revenue Revenue $5.24/bu $3.33/bu $1.94/bu $1.27/bu $0.00/bu Your work