Question 1 10 pts You are considering installing erosion control fences on a degraded rangeland parcel. The erosion control fences are designed to reduce erosion, spread water and ultimately increase forage production (i.e. AUM). You value 1 AUM at $25. Installing erosion control fences will cost $7,300. You anticipate that in Year 1, there will be no increase in AUM, in Year 2 you will gain 45 AUM's, in Year 3 you will gain 60 AUM's (60 total, NOT 60 +45), in Year 4 you will gain 70 AUM's, and by Year 5 you will sustain an increase of 80 AUM's (AUM increase will stay at 80 for Y5 Y12). You expect the erosion control fences to last 12 years. You estimate that annual maintenance costs for the fences are $150. For simplicity, assume the benefits of the fences will cease after 12 years and they have no salvage value. Expect a discount rate of 7%. Complete the following table. I encourage you to use Excel or Google Sheets. Project A: Erosion Control Fences Year Annual Net Cash Revenue Present Value 0 1 2 3 4 5 6 7 8 9 10 11 12 Total Net Cash Revenue Average Net Revenue per Year Total Net Present Value