Table 3.2 Economic Benefits and Costs of Market Entities Associated with Cessation of Logging in National Estate Areas of the South-East Forests, Australia. (Estimates in millions of Australian dollars.) lay JA JOITA Benefits/Costs Benefits (present values) Cost savings in forest operations: Sawlog production, New South Wales Pulplog production, New South Wales Sawlog production, Victoria Cost savings in sawmill and chipmill operations Total benefits Costs (present values): Value of unharvested sawlogs Value of unharvested pulplogs Economic cost of unemployment Total costs Net present value Benefit-cost ratio After Wills (1997). Discount rate 4% 7% 10% 6.8 5.3 4.2 16.0 12.4 9.9 18.0 11.6 8.4 11.9 8.3 6.3 52.7/37.6 28.8 44.5 30.3 22.6 15.2 12.1 19.7 3.2 3.1 2.9 67.448.637.6 -14.7 -11 -8,8 2. How does a change in the discount rate affect the