A farmer has 500 acres on which to plant two crops: corn and wheat. To produce these
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A farmer has 500 acres on which to plant two crops: corn and wheat. To produce these crops, there are certain expenses:
After the harvest, the farmer must store the crops while awaiting proper market conditions. Each acre yields an average of 100 bushels of corn or 40 bushels of wheat. The farmer has available capital of \(\$ 24,000\) and is not able to store more than 18,000 bushels. If the net profit (after all expenses have been subtracted) per bushel of corn is \(\$ 2.10\) and for wheat is \(\$ 2.50\), how should the farmer plant the 500 acres to maximize the profit, and what is the maximum profit?
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