Use the following potential harvest years of timber (in cubic ft) from a forest, assume that the price of timber is $1 (net of harvest costs) per cubic foot and the interest rate is 10%

1) from a biological perspective, the best year to harvest timber is in the year?_____

2) if timber is to be harvested and replanted over an infinite horizon, the best harvest period is less than? _____

3) the present value of timber harvest in year 30 is? ______

4) if timber is to be harvested only once, the best harvest year is? _______

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Year Timber Volume (cubic feet) 10 20 20 50 30 110 40 180 50 240 60 290 70 230 80 360 90 380 100 390