Input the following single rotation forest management table into Excel (Hint: use the the Excel worksheet on forest management to guide your formula inputs here). Information parameters: Planting costs are $500 (fixed). The discount rate is 1 percent. The harvesting cost is $0.50 per cubic acre of harvest. The market price of harvested trees is $10 per cubic foot. Volume PV year its per Revenue harvesting PV total cost cost NPV profit MB of MC of delay delay revenue acre 9 2,040 10 2,090 11 2,115 12 2,131 13 2,141 14 2,146 Suppose management harvests at year 13. What is true? O Management harvested too soon because the marginal benefit of delay is $88 and the marginal cost of delay is $187. O Management waited too long because the marginal benefit of delay is $88 and the marginal cost of delay is $187. O Management harvested too soon because the marginal benefit of delay is $187 and the marginal cost of delay is $88. Management waited too long because the marginal benefit of delay is $187 and the marginal cost of delay is $88. Question 17 1 pts Reconsider the previous question. Which statement below is true? O Management should harvest at year 11. O Management should harvest at some other year not stated in the other options. O Management should harvest at year 10. O Management should harvest at year 12. Input the following single rotation forest management table into Excel (Hint: use the the Excel worksheet on forest management to guide your formula inputs here). Information parameters: Planting costs are $500 (fixed). The discount rate is 1 percent. The harvesting cost is $0.50 per cubic acre of harvest. The market price of harvested trees is $10 per cubic foot. Volume PV year its per Revenue harvesting PV total cost cost NPV profit MB of MC of delay delay revenue acre 9 2,040 10 2,090 11 2,115 12 2,131 13 2,141 14 2,146 Suppose management harvests at year 13. What is true? O Management harvested too soon because the marginal benefit of delay is $88 and the marginal cost of delay is $187. O Management waited too long because the marginal benefit of delay is $88 and the marginal cost of delay is $187. O Management harvested too soon because the marginal benefit of delay is $187 and the marginal cost of delay is $88. Management waited too long because the marginal benefit of delay is $187 and the marginal cost of delay is $88. Question 17 1 pts Reconsider the previous question. Which statement below is true? O Management should harvest at year 11. O Management should harvest at some other year not stated in the other options. O Management should harvest at year 10. O Management should harvest at year 12