You are given the following information:

Cash rent	$130
Land price	$1,300
Acres	100
Yield (bu/acre)	150
Price ($/bu)	$3.5
Gov payments ($/acre)	$20
Revenues ($/acre)
Operating costs ($/acre)	$250

Loan information
Land price	$130,000
Down payment	$6,000
Loan value	124,000
Years	30
Annual interest rate	5.00%
Annual payment	$8,066

Growth rate	5%
Discount rate	10%
Marginal tax rate	25%

Please fill in the following table. Land is purchased with a loan.

			Land is purchased with a loan
Year	Revenues	Operating costs	Loan payments	Interest	Taxes	Net after tax cash flow
1
2