Question 6 Consider a fast growing tree that reaches maturity in 14 years. The table below shows the timber volume as a function of age of the tree. 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Volume O 50 120 220 350500 700 1000 1300 1500 1650 1780 1880 1950 2000 1980 1950 1900 1830 1730 1600 Vol 50 70 100 130150 200 300 300 200 150 130 100 70 50 -20 30 -50 1-70 -100-130 Suppose that the price of timber is 1, the cost of harvest is 10, the value of the bare land is 500, and the discount rate is 10%. Suppose that you have a parcel of land and can plant this species of tree. How old should the trees be when they are harvested