You expect 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 will pay for one acre of bare land if you intend to grow trees in perpetuity?

Calculate NPV and plug into LEV formula. Please provide the step by step process for solving this question.