You are purchasing a new combine, 24-foot header, 240-hp diesel engine. Its list price is $180,000, and you purchase it for $175,000. You expect it to have a useful life of 10 years. You will use it 300 hours per year. Your opportunity interest rate is 8%. Fill in the table below. The performance rate is 8 acres per hour. \begin{tabular}{lr} \hline Step 1: List basic data & \\ \hline New combine, 24-foot header, 240-hp diesel engine: & $180,000 \\ List price & $175,000 \\ Purchase cost & $39,600 \\ Salvage value ( 22% of new list price, Table 22-1) & $107,300 \\ Average value & 10 \\ Ownership life in years & 250 \\ Estimated annual use in hours & 8% \\ Interest rate & 8 \\ Performace Rate in acres per hour & \\ \hline Step 2: Calculate ownership costs & \\ \hline Depreciation & \\ Interest (8%) & \\ Taxes, insurance and housing (1.5% average value) & \\ Total annual ownership costs & \\ Ownership costs per hour & \\ \hline Step 3: Calculate operating costs & \\ \hline Repairs (1.33% list price hours 100) \\ Diesel fuel ( 240 horsepower 0.044 gallon/hp-hour $2.00 per gallon hours \\ Lubrication and filters (15% of fuel costs) \\ Labor (hours $9.00 per hour 1.20) & \\ Total annual operating costs & \\ \hline Operating cost per hour & \\ \hline Step 4: Calculate total cost per hour & \\ \hline Ownership cost per hour & \\ Operating cost per hour & \\ \hline Total cost per hour & \\ \hline Step 5: Calculate cost per acre & \\ \hline Cost per acre & \\ \hline \end{tabular}