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Scenario 3: Drought in the Cornbelt with Lower Loan Rate After you submit your new payment calculations given the drought in the previous scenario, your Branch Chief says that the Secretary wants to know if this "typical" corn farmer would be benefited in this drought situation if he set the loan rate lower at $1.50 and how government payments would change. Make your new calculations assuming everything is the same as in the previous scenario (with the drought) EXCEPT that the loan rate is now $1.50/bushel. Put your new calculations in the table below. Payments Price Loss Market Total Market price LDP/MLG Coverage Revenue Revenue $5.24/bu $3.33/bu $1.94/bu $1.27/bu $0.00/bu Your work