SUBJECT PROPERTY: 160 ACRE IRRIGATED FARM EXPECTED PLANTED ACRES EXPENSES SHARED WITH THE LANDLORD: DETERMINE THE VALUE ESTIMATE IISII'O IIE CAITALIZATION RATE DERIVED IN THE CASE STUDY Net Income from Production: $38,363.00$13,900.00=$24,463.00 Income per acre =$18,283.00/210ac=$87.06 Indicated Capitalization Rate =$87.06/$1,500.00=0.05804=5.80% SUBJECT PROPERTY: 160 ACRE IRRIGATED FARM EXPECTED PLANTED ACRES EXPENSES SHARED WITH THE LANDLORD: DETERMINE THE VALUE ESTIMATE IISII'O IIE CAITALIZATION RATE DERIVED IN THE CASE STUDY Net Income from Production: $38,363.00$13,900.00=$24,463.00 Income per acre =$18,283.00/210ac=$87.06 Indicated Capitalization Rate =$87.06/$1,500.00=0.05804=5.80%