Question: Kris has been considering starting a small tree farm their property as a way to supplement their income. The tree seedlings cost $1 each to

Kris has been considering starting a small tree farm their property as a way to supplement their income. The tree seedlings cost $1 each to purchase and plant. Kris figures they can plant 520 seedlings. If all goes well, in 19 years, they will be able to net $140 per tree when they are harvested. Kris read that an appropriate annual discount rate would be 9%. What is the present value of the future harvest?

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