Please show your work, thanks!

Use a separate sheet of paper to answer the following questions. Personally, I would use a spreadsheet to find the answers this is a good way to double-check that your answers are correct. 1. Assume a farmer is considering switching from conventional tillage on 300 acres of soybeans to using a no-till planter. Use the following information to analyze this decision using the partial budget format discussed in class. Show work. a. Machinery (including fuel) variable costs for the tractor and no-till planter are expected to be $10.00 per acre. b. Machinery variable costs for conventional tillage have averaged $15.00 per acre over the past several years. c. Labor requirements for conventional tillage are 3.5 hours per acre with a value of $17.00/hour. d. Labor requirements for no-till are 2 hours per acre at $17.00/hour e. In recent years, conventional till soybean yields have averaged 56 bushels per acre f. With no-till, the soybean yield is expected to drop 2 bushels per acre g. Soybeans are expected to be worth $9.50/bushel during the year considered. Should the farmer make this change? Why or why not? (20 points) 2. If the yield decline is expected to be 4 bushels per acre, does this change the decision? What is the difference in profit? Use the partial budget format, show work. (20 points) Use a separate sheet of paper to answer the following questions. Personally, I would use a spreadsheet to find the answers this is a good way to double-check that your answers are correct. 1. Assume a farmer is considering switching from conventional tillage on 300 acres of soybeans to using a no-till planter. Use the following information to analyze this decision using the partial budget format discussed in class. Show work. a. Machinery (including fuel) variable costs for the tractor and no-till planter are expected to be $10.00 per acre. b. Machinery variable costs for conventional tillage have averaged $15.00 per acre over the past several years. c. Labor requirements for conventional tillage are 3.5 hours per acre with a value of $17.00/hour. d. Labor requirements for no-till are 2 hours per acre at $17.00/hour e. In recent years, conventional till soybean yields have averaged 56 bushels per acre f. With no-till, the soybean yield is expected to drop 2 bushels per acre g. Soybeans are expected to be worth $9.50/bushel during the year considered. Should the farmer make this change? Why or why not? (20 points) 2. If the yield decline is expected to be 4 bushels per acre, does this change the decision? What is the difference in profit? Use the partial budget format, show work. (20 points)