You exect the following revenues and costs for managing one acre of forestland forever:

$-$$$350=$ Initial reforestation cost today and every $25$ years thereafter;

$-$$$5\mathrm{.}00=$ Annual taxes starting year one;

$$9\mathrm{.}00=$ Annual hunting lease income starting year one;

$$2,400=$ Final harvest income every $25$ years.

If the discount rate is $5\%,$ what is the maximum that you would pay for one acre of bare land if you intend to grow trees in perpetuity?

Calculate NPV and plug into LEV formula.